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Colonial Pipeline Paid Almost $5M Crypto Ransom Soon After Attack: Report
The company previously said it would not pay the hackers.
Updated Sep 14, 2021, 12:55 p.m. Published May 13, 2021, 3:12 p.m.
Colonial Pipeline paid almost $5 million in ransom to allegedly Eastern European hackers, contrary to reports the company had no intention of doing so.
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- 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
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
What to know:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
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