Colonial Pipeline Pays $5 Million Cryptocurrency Ransom

Colonial Pipeline Pays $5 Million Cryptocurrency Ransom

Colonial Pipeline has paid a $5 million ransom to hackers in an anonymous cryptocurrency, according to a Bloomberg report that cites sources familiar with the transaction.

The pipeline system restarted operations on Wednesday after a crippling ransomware attack but warned that it could take several days for the gas supply chain to return to normal.

Related

Ransomware Attackers Raked In Huge Amount of Crypto in Q1: Report

The incident led to a national crisis, with natural gas prices soaring amid panic buying. Yesterday, the GasBuddy app jumped to the number one spot in the U.S. Apple App Store, dethroning leading crypto exchange Coinbase.

According to the FBI’s findings, the hackers are part of the Russia-linked DarkSide group.

The bad actors were reportedly demanding the ransom to be paid in Bitcoin or privacy coin Monero.

As Bloomberg states, the ransom was paid in just hours after the hack occurred, while earlier reports suggested that Colonial Pipeline was refusing to negotiate with the attackers.

Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.

Colonial Pipeline Pays $5 Million Cryptocurrency Ransom

Colonial Pipeline Pays $5 Million Cryptocurrency Ransom

Colonial Pipeline has paid a $5 million ransom to hackers in an anonymous cryptocurrency, according to a Bloomberg report that cites sources familiar with the transaction.

The pipeline system restarted operations on Wednesday after a crippling ransomware attack but warned that it could take several days for the gas supply chain to return to normal.

Related

Ransomware Attackers Raked In Huge Amount of Crypto in Q1: Report

The incident led to a national crisis, with natural gas prices soaring amid panic buying. Yesterday, the GasBuddy app jumped to the number one spot in the U.S. Apple App Store, dethroning leading crypto exchange Coinbase.

According to the FBI’s findings, the hackers are part of the Russia-linked DarkSide group.

The bad actors were reportedly demanding the ransom to be paid in Bitcoin or privacy coin Monero.

As Bloomberg states, the ransom was paid in just hours after the hack occurred, while earlier reports suggested that Colonial Pipeline was refusing to negotiate with the attackers.

Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.

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