U.S. recovers $2.3 million in bitcoin paid in the Colonial Pipeline ransom

Environment

A sign warns consumers on the avaliability of gasoline at a RaceTrac gas station on May 11, 2021, in Smyrna, Georgia.
Elijah Nouvelage | AFP | Getty Images

WASHINGTON – U.S. law enforcement officials said Monday they were able to retrieve some of the money paid to a criminal cybergroup on the heels of a crippling ransomware attack on Colonial Pipeline, according to NBC News.

Last month a criminal cybergroup known as DarkSide launched a sweeping ransomware attack on Colonial Pipeline. The cyberattack forced the company to shut down approximately 5,500 miles of American fuel pipeline, leading to a disruption of nearly half of the East Coast fuel supply and causing gasoline shortages in the Southeast.

Ransomware attacks involve malware that encrypts files on a device or network that results in the system becoming inoperable. Criminals behind these types of cyberattacks typically demand a ransom in exchange for the release of data.

Colonial Pipeline paid the ransom to hackers, one source familiar with the situation confirmed to CNBC.

After the attack by DarkSide, Biden told reporters that the U.S. did not currently have intelligence linking the group’s ransomware attack to the Russian government.

“So far there is no evidence from our intelligence people that Russia is involved although there is evidence that the actor’s ransomware is in Russia, they have some responsibility to deal with this,” Biden said on May 10. He added that he would discuss the situation with Russian President Vladimir Putin.

The two leaders are slated to meet in Geneva on June 16.

The Kremlin has denied claims that it has launched cyberattacks against the United States.

This is breaking news. Please check back for updates.

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