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It has been barely a month since we reported on the recent ransomware attack on the Colonial Pipeline Company, yet news continues to break with additional revelations about the recent attack. What we have learned during the past several weeks should give businesses encouragement, while reinforcing some important lessons.
Shortly after the attack, it was revealed that Colonial Pipeline paid roughly $4.3 million in bitcoin (BTC) to obtain the decryption key from the attackers to allow Colonial to access its data and help restore its systems. On June 7, 2021, the Department of Justice announced that it was able to recover 63.7 BTC valued at approximately $2.3 million allegedly representing funds paid to the group DarkSide which had targeted Colonial in the ransomware attack. According to the Department, the Federal Bureau of Investigation was able to track multiple transfers of BTC and to identify the virtual currency
U.S. Senators consider preventing companies paying cyber criminals
10 Jun 2021, 03:56 GMT+10
WASHINGTON D.C.: A senior member of the Democratic Party has emphasized the need for greater transparency about those companies paying ransoms to cybercriminals.
Senator Mark Warner, chairing the Senate Intelligence Committee, made the statement following a major American meat processing and supplying company being compelled to close down its plants, which process nearly one-quarter of the U.S. supply of beef, following a cyberattack. Not only are the companies often not reporting that they are attacked, but they re not reporting the ransomware payments, Warner remarked on the Meet the Press program aired on NBC.
Colonial Pipeline: We Need the Government s Help to Put Pressure on the Host Countries – MeriTalk meritalk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from meritalk.com Daily Mail and Mail on Sunday newspapers.