Important Takeaways:

• Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday.
• An ongoing Chinese hacking campaign known as Volt Typhoon has successfully gained access to numerous American companies in telecommunications, energy, water and other critical sectors, with 23 pipeline operators targeted, Wray said in a speech at Vanderbilt University.
• “Its plan is to land low blows against civilian infrastructure to try to induce panic.”
• Earlier this week, a Chinese Ministry of Foreign Affairs spokesperson said Volt Typhoon was in fact unrelated to China’s government, but is part of a criminal ransomware group.
• Wray said China’s hackers operated a series of botnets – constellations of compromised personal computers and servers around the globe – to conceal their malicious cyber activities.

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