Colonial Pipeline Confirms It Paid $4.4 Million Ransom

Share post:

The CEO of Colonial Pipeline, Joseph Blount, told the Wall Street Journal that he gave the green light for a $4.4 million ransom to be paid to hackers because company executives were not sure what impact the malware attack had on the company’s system.

The ransom was paid in consultation with experts who have worked with DarkSide, the malware gang behind the attack, in the past.

Blount, who confirmed publicly for the first time that the company had paid the ransom, said: “I know that’s a highly controversial decision. I didn’t make it lightly. I will admit that I wasn’t comfortable seeing money go out the door to people like this. But it was the right thing to do for the country.”

After paying with Bitcoin, the company received a decryption key, which was useful but not enough to return the pipeline system immediately.

It will take months to restore some of the systems and cost Colonial millions of dollars.

For more information, read the original story in the Wall Street Journal.



Related articles

Socket develops tool to protect developers from npm vulnerabilities

Socket, a security firm, has created a new method for protecting developers from the flaws in npm, GitHub's...

Google spots vulnerabilities in Exynos chips that could affect Androids

Google is urging Android phone owners, such as those who own Samsung, Pixel, or Vivo phones, to take...

Orlando Family Physicians agrees to settle clients affected by data breach

Orlando Family Physicians (OFP) has reached a class action settlement to resolve claims stemming from a 2021 healthcare...

FBI arrests alleged head of BreachForums criminal market

Man arrested in New York state is believed to have run one of the biggest criminal forums in

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways