Summary: The US Department of Defense has designated Tencent as a Chinese military business, restricting its ability to supply technology or services to the federal government. This decision follows sanctions against a cybersecurity company linked to cyber-intrusions targeting US critical infrastructure.
Threat Actor: US Department of Defense | US Department of Defense
Victim: Tencent | Tencent
Key Point :
- Tencent’s shares dropped nearly 10% following the announcement, resulting in significant financial losses.
- The designation does not equate to a full sanction, allowing Tencent to continue operations in the US outside of federal contracts.
- Tencent has publicly stated that the designation is a mistake and plans to work with the DoD to clarify its status.