The US Treasury was hacked in early December.
Coinbase CLO Paul Grewal said that the Treasury was unprepared for the attack.
Grewal hinted that now the US firms will be more hesitant in handing over clients’ private info.
Coinbase CLO Paul Grewal has raised concerns about the US Treasury’s lack of preparedness following a significant cyber breach on December 8, 2025.
The hack, which gave Chinese hackers access to unclassified documents, has sparked widespread criticism. Although the Department of Treasury and FBI has launched an investigation into the breach, Grewal warned that such incidents could undermine public trust in the Bank Secrecy Act, a law requiring crypto firms to share sensitive customer data with federal agencies.”
Coinbase Executive Questions Bank Secrecy Act Mandate
In a post on X (formerly Twitter), Grewal referenced a statement by an MIT researcher, claiming the Treasury was “unprepared in several critical ways.” He argued the incident raises concerns over the Bank Secrecy Act’s far-reaching requirements, which mandate crypto companies to provide customer documents when federal laws are violated.
The Chinese hacked Treas…
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