Most of the funds passing through the service, amounting to $80 million, were from high-risk exchanges, while $54 million were from addresses linked to cyberattacks and cryptocurrency exfiltration activities.
Aside from labeling ransomware operations as "hostile foreign cyber actors" the bill would also request a report from the Treasury Secretary detailing information from individuals, groups, and organizations subject to Office of Foreign Assets Control sanctions due to ransomware involvement.
Aside from not implementing adequate safeguards to prevent sign-ups from children younger than 13 without parental consent until late 2020, TikTok also has a "convoluted" data deletion process and has not adhered to parents' requests to remove data collected from their children, according to the lawsuit.
In his confirmation hearing for the assistant secretary of Defense for cyber policy post, Sulmeyer said that he would focus on strengthening U.S. digital forces' "combat power" and "sustained readiness" against increasingly sophisticated cybersecurity threats.
Now that Kaspersky Lab said it’s leaving the United States following the Biden administration’s ban, it’s important to understand that these type of cases are ongoing – TikTok could be next.