US to announce recovery of millions of dollars from Colonial Pipeline ransomware attack

1 week ago 16

The US Justice Department is to denote the betterment of millions of dollars worthy of cryptocurrency from the Colonial Pipeline Co. ransomware attack.

A photograph   of Colonial Pipeline's Charlotte Tank Farm successful  Charlotte, North Carolina, US

A photograph of Colonial Pipeline's Charlotte Tank Farm successful Charlotte, North Carolina, US. (Photo: Reuters)

The U.S. Justice Department volition denote the betterment of millions of dollars worthy of cryptocurrency from the Colonial Pipeline Co. (COLPI.UL) ransomware onslaught during a quality league astatine 3:15 p.m. ET (1915 GMT) connected Monday, a instrumentality enforcement authoritative acquainted with the substance said.

(Reuters) The United States has recovered millions of dollars successful cryptocurrency that was paid arsenic ransom to hackers who unopen down the Colonial lipid pipeline successful May, CNN reported connected Monday conscionable arsenic the Justice Department was expected to clasp a quality league astir the operation.

— Tom Harrington (@cbctom) June 7, 2021

The section said U.S. Deputy Attorney General Lisa Monaco and different officials volition talk connected past month's hack that led to monolithic shortages astatine state stations on the East Coast conscionable arsenic the summertime driving play began.

Last month, a cyber transgression radical that U.S. authorities said operated from Russia penetrated the pipeline operator connected the U.S. East Coast, locking its systems and demanding a ransom.

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The hack caused a shutdown lasting respective days, starring to a spike successful state prices, panic buying and localized substance shortages successful the U.S. Southeast.

Colonial Pipeline said it paid the hackers astir $5 cardinal to regain access.

The White House urged firm executives and concern leaders past week to measurement up information measures to support against ransomware attacks aft the Colonial onslaught and aboriginal intrusions that disrupted operations astatine a large meatpacking company.

U.S. Commerce Secretary Gina Raimondo said connected Sunday the Biden medication was looking astatine each options to support against ransomware attacks and that the taxable would beryllium connected the docket erstwhile President Joe Biden meets with Russian President Vladimir Putin this month.

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