Colonial Pipeline Paid Almost $5M Crypto Ransom Soon After Attack: Report

·1 min read

Colonial Pipeline paid almost $5 million in ransom to allegedly Eastern European hackers, contrary to reports the company had no intention of doing so.

  • The private company paid the ransom in “untraceable cryptocurrency” to restore functionality to the U.S.’ largest pipeline, according to people familiar with the matter, Bloomberg reported Thursday.

  • The sum was paid within hours of the attack to the hackers, identified by the FBI as having links to the DarkSide group, according to Bloomberg’s report.

  • While “untraceable cryptocurrency” may point to a privacy coin like monero being used, CNN reported Wednesday the ransomware group had demanded payment in bitcoin.

  • Colonial Pipeline resumed operations Wednesday, meaning petroleum could begin reaching five states in the East Coast region, including Florida and Georgia.

See also: ‘Panda’ Malware Targets Crypto Wallets and Users’ Discord, Telegram Accounts

Related Stories