The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against Yin Kecheng, a cyber actor based in Shanghai, and Sichuan Juxinhe Network Technology Co., LTD., a cybersecurity company located in Sichuan. These entities have been linked to malicious cyber activities targeting the United States.
Yin Kecheng is implicated in the recent compromise of the Department of the Treasury’s network. He is affiliated with China’s Ministry of State Security and has been active in cyber operations for over a decade. OFAC’s designation of Yin Kecheng falls under Executive Order 13694, aimed at those involved in unauthorized access to U.S. networks.
Sichuan Juxinhe Network Technology Co., LTD. has been associated with Salt Typhoon, a cyber group responsible for compromising major U.S. telecommunication and internet service provider networks. The company has direct ties to Chinese state-backed operations that threaten U.S. critical infrastructure.
Deputy Secretary of the Treasury Adewale O. Adeyemo stated, “The Treasury Department will continue to use its authorities to hold accountable malicious cyber actors who target the American people, our companies, and the United States government.”
This action follows previous sanctions against other Chinese entities involved in similar activities. The U.S. State Department’s Rewards for Justice program is offering up to $10 million for information leading to individuals engaged in such activities under foreign government direction.
The sanctions mean that all property and interests belonging to these designated persons within U.S jurisdiction are blocked, prohibiting any transactions by U.S persons involving these assets unless authorized by OFAC.
Sanctions violations can lead to civil or criminal penalties on both domestic and foreign entities. The goal of these measures is not punitive but rather aims at encouraging positive behavioral changes among sanctioned parties.
Further details on today’s designations are available through official channels.
