On January 17, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control designated Shanghai-based cyber actor Yin Kecheng for his alleged involvement the recent compromise of the Treasury Department’s office network. According to OFAC, Kecheng is affiliated with the People’s Republic of China Ministry of State Security (“MSS”). OFAC also designated Sichuan-based cybersecurity company Sichuan Jexinhe Network Technology Co., LTD for allegedly having a direct role in Salt Typhoon’s recent compromise of the networks of multiple U.S.-based telecommunication and internet service provider companies. Salt Typhoon, a malicious cyber group that has been active since at least 2019, has allegedly hacked numerous U.S. companies in the communications sector.
The designations were imposed pursuant to Executive Order 13694, which was further amended by EO 14144, “Strengthening and Promoting Innovation in the Nation’s Cybersecurity,” for engaging in cyber-enabled activities originating outside of the United States that threaten the national security, foreign policy or the economic health and stability of the United States. As a result of these designations, all property and interests in property of the designated persons within the United States or within the possession or control of a U.S. person are blocked, and U.S. persons are generally prohibited from engaging in transactions involving a designated person. Entities owned 50 percent or more by one or more blocked persons are also blocked.