The Director of the Central Intelligence Agency stated that the agency currently has “many different projects” focused on encryption

The current director of the CIA, William Burns, said that his predecessor in a government agency initiated a project focused on collecting cryptocurrency intelligence.

exist Wall Street Journal Monday, Burns CEO Council Summit Said In addition to communicating with industry experts, the CIA also hopes to add expertise in cryptocurrency and blockchain to its intelligence analyst team. He said that given what he has seen in ransomware attacks, challenges from the encryption field “may have a huge impact on the United States.”

“My predecessor has already started this,” Burns said, possibly referring to the actions of former CIA Director David Cohen. “[They] Many different projects have been launched, focusing on cryptocurrencies, and trying to study second- and third-order consequences, and to help our colleagues in other parts of the U.S. government provide reliable intelligence about what we see.”

Screenshot of the Wall Street Journal’s December 6th CEO Council Summit

He added that building this knowledge about encryption is an “important priority” for the agency, and he plans to devote “resources and attention” to it. The Director of the Central Intelligence Agency did not mention the specific direction the agency plans to take in combating cyber attacks, but hinted that its goal is to “enter the financial network” for criminal groups that use digital currency to extort money.

Burns assumed the position of director in March, and he has seen hackers demand millions of cryptocurrencies. Attack on the colony’s pipeline system In May, a special task force of the US government responded by recovering most of the lost funds. Michael Morrell, who served as the Acting Director of the Central Intelligence Agency from 2012 to 2013, stated that “blockchain analysis is an efficient tool for fighting crime and intelligence gathering.” Underutilized by law enforcement agencies mechanism.

related: Since World War II, the CIA has the keys to encrypt global communications

The Director of the Central Intelligence Agency has no fixed term, which means that Burns may serve in the agency at the pleasure of US President Joe Biden.As of press time, Biden has not announced his Choose to fill three vacancies On the board of the Federal Reserve System.