The **U.S. Treasury Department** will begin sharing cyber threat intelligence with the cryptocurrency industry, a move prompted by numerous incidents involving the theft of millions in consumer funds. ### OCCIP Initiative The Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (**OCCIP**) announced the initiative, stating they will “provide timely, actionable cybersecurity information to eligible U.S. digital asset firms and industry organizations, helping them better identify, prevent, and respond to cyber threats targeting their customers and networks.” This information will be provided at no cost to eligible firms that meet Treasury’s criteria, mirroring the support given to traditional financial institutions. ### Addressing Growing Threats **Cory Wilson**, deputy assistant secretary for cybersecurity at the Treasury Department, emphasized the growing frequency and sophistication of cyber threats targeting digital asset platforms. “This initiative expands access to actionable threat information that helps firms strengthen defenses, reduce risk, and respond more effectively to incidents,” Wilson stated. ### Recent Crypto Thefts The announcement follows a significant theft of $280 million from crypto platform **Drift**, allegedly by North Korean hackers. Last year, over $3.4 billion was stolen from cryptocurrency firms, and experts estimate billions in annual losses over the past five years. **Luke Pettit**, assistant secretary for financial institutions at the Treasury Department, highlighted the increasing importance of digital asset firms within the U.S. financial sector. He stated that their resilience is “critical to the health of the broader system,” and that extending access to high-quality cybersecurity information will promote a more secure and responsible digital asset ecosystem. ### Government Response The Justice Department has been increasingly levying charges against individuals accused of stealing funds from cryptocurrency platforms. A whole-of-government effort has been underway to warn the crypto industry of infiltration and theft attempts by North Korean threat actors. However, prosecutions and warnings have not deterred cybercriminals and nation-state hackers from exploiting coding flaws or targeting cryptocurrency employees. Recent incidents include a cyberattack on **Bitcoin Depot**, a cryptocurrency ATM company, resulting in the theft of over $3.6 million. Other notable thefts this year include losses of $26 million and $40 million from other platforms. ### Budget Cuts Controversy The threat sharing announcement comes amid backlash against the Trump administration for cutting programs at departments tasked with sharing cybersecurity information with the private sector. The fiscal 2027 budget proposes cutting $707 million from the budget of the Cybersecurity and Infrastructure Security Agency (**CISA**), including eliminating programs focused on “external engagement offices.” CISA had already cut key programs designed to share threat information with state governments and other key industries. <a href="https://www.recordedfuture.com/?utm_source=therecord&amp;utm_medium=ad"><figure><img src="https://cms.therecord.media/uploads/2025_0514_Record_Ads_970x250_1_d144dbf901.png" data-nimg="1" decoding="async" height="500" width="1000" alt="Recorded Future"></figure></a>