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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.
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Colonial Pipeline paid almost $5 million in ransom to allegedly Eastern European hackers, contrary to reports the company had no intention of doing so.
STORY CONTINUES BELOW
- 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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CFTC's Selig opens legal dispute against states getting in way of prediction markets
Commodity Futures Trading Commission Chairman Mike Selig fired a legal warning shot defending his agency's jurisdiction over the event contract space.
What to know:
- U.S. Commodity Futures Trading Commission Chairman Mike Selig directed his agency to file an amicus brief declaring his federal agency has authority over the U.S. prediction markets.
- Though the CFTC once fought a legal resistance against such firms as Polymarket and Kalshi, the agency has embraced them during the administration of President Donald Trump, whose son has worked as a paid adviser for the leading companies.
- As Selig defends his agency's jurisdiction in court, he's also pursuing new prediction markets rules for the U.S.
