BREAKING: It’s been reported that Colonial Pipeline Co. was forced to pay hackers over $5 million in ransom. The pipeline company shelled out the cash in an effort to free their computer systems which help supply the country with gasoline.
The pipeline company apparently made the transactions in untraceable cryptocurrency and in return, hackers would hand back Colonial’s computer network using a decrypting tool. The restoration of Colonial’s computer system was slower than expected, with pipeline execs revealing, “The hackers purposefully slowed down the decryption tool.”
It was confirmed this week by the FBI that Darkside hacker group was responsible for the cyberattack on a pipeline that provides 50% of fuel on the East Coast. Darkside is said to operate mainly in Russia and Eastern Europe.
Almost immediately, many states on the East Coast were crippled by the fuel shortage. The Biden administration merely stood by, struggling to respond to the crisis.
The White House admitted private companies like Colonial Pipeline Co. who often find themselves cyber-vulnerable sometimes have to pay the fee to hackers. Biden’s Deputy National Security Advisor Anne Neuberger brushed off the incident, chalking it up to a mere hazard of the trade.
“We recognize that victims of cyberattacks often face a very difficult situation. And they have to just balance off, in the cost-benefit, when they have no choice with regard to paying a ransom.”
Neuberger would not confirm nor deny any information relating to the ransom Colonial Pipeline apparently paid.
Author: Asa McCue