• 3 minutes Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
  • 6 minutes Natural gas mobility for heavy duty trucks
  • 12 minutes Colonial pipeline hack
  • 38 mins U.S. Presidential Elections Status - Electoral Votes
  • 1 hour Texas Power Outage Danger Until June 18th. Texans told to conserve energy!
  • 5 hours Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 1 day Federal Judge Says Biden Probably Wrong for Halting Drilling on Federal Land
  • 2 days And now, hybrid electric locomotives...
Bullish Fundamentals Drive Oil Prices Higher

Bullish Fundamentals Drive Oil Prices Higher

Oil prices have rallied in…

G7 Shies Away From EV Sales Targets

G7 Shies Away From EV Sales Targets

The G7 nations failed to…

U.S. Claws Back Millions From Pipeline Ransomware Attackers

The FBI has seized $2.3 million of the $4.4 million paid to the ransomware attackers of the Colonial Pipeline.

Colonial Pipeline had paid the $4.4 million ransomware—in the form of bitcoin—to the DarkSide ransomware group to quickly restore the flow of petroleum.

The decryptor tool that Colonial purchased from the hackers, however, didn’t work properly, leaving Colonial to rebuild its network through other means anyway, according to Wall Street Journal report.

Colonial paid the ransom because it was not confident it understood the extent of the ransomware, or how long it would take it to restore service to the pipeline after the May 7 attack.

Colonial paid the ransom just a day after the attack.

But that didn’t stop the U.S. Justice Department from tracking down the funds Colonial used to pay the hackers.

On Monday, the DoJ said in a press release that it had tracked down about 63.7 of the 75 bitcoin that it assumed Colonial used to pay DarkSide.

“Following the money remains one of the most basic, yet powerful tools we have,” Deputy Attorney General Lisa O. Monaco for the U.S. Department of Justice said in the release. “Ransom payments are the fuel that propels the digital extortion engine, and today’s announcement demonstrates that the United States will use all available tools to make these attacks more costly and less profitable for criminal enterprises. We will continue to target the entire ransomware ecosystem to disrupt and deter these attacks. Today’s announcements also demonstrate the value of early notification to law enforcement; we thank Colonial Pipeline for quickly notifying the FBI when they learned that they were targeted by DarkSide.”

U.S. Energy Secretary Granholm, however, this week chastised the practice of paying ransom, arguing that it exacerbates the issue.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • George Doolittle on June 07 2021 said:
    "paid their own employees" is my understanding of what happened as the Company had to release a statement as to "why they had to turn the pipeline back on" and the statement certainly did not read "because the Federal Government told us to."

    The sooner the USA starts running NVA counter-insurgency operations across the entire State of Texas the better. Starting putting the word "Nation" in the term "National Interest."

    Nothing another F-35 boondoggle can't solve of course..

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News