The Biden administration plans to bring together 30 countries later this month to discuss the threat ransomware attacks pose to global economic and national security. Per CNN, the virtual meeting is part of what the president says will become an ongoing multilateral initiative to tackle the cybersecurity problem.
National Security Adviser Jake Sullivan told the network the goal of the meeting is "to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically."
The alliance marks the latest effort by the Biden administration to tackle the issue of ransomware following a year in which one such attack on the Colonial Pipeline led to gas shortages across parts of the US. In the aftermath of the incident, the president signed an executive order that called for greater cooperation and information sharing between disparate federal agencies. More recently, the Treasury Department imposed sanctions on the SUEX cryptocurrency exchange for allegedly facilitating several attacks.