Ransomware payments are estimated to have cost U.S. companies more than $1 billion in 2021, according to the Treasury Department. But that staggering figure pales in comparison to the hundreds of billions of dollars worth of intellectual property China steals from American businesses each year.
Over the course of 18 months starting in June 2017, one Chinese scientist alone stole proprietary information worth $1 billion from his employer. The scale of China’s global hacking operations makes Beijing a formidable opponent. But it is the tactics that Chinese hackers employ — penetrating supply chains and the ecosystem behind the digital economy — that provide Beijing with exponentially greater opportunities to undermine the U.S. economy and our security.
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