Colonial Pipeline pays hackers nearly $5M to resume operations
Friday, May 14, 2021
Colonial Pipeline Co. paid Eastern European hackers nearly $5 million on Friday last week to resume operations, according to Yahoo Finance.
The latest intel on the matter contradicts earlier reports saying the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to sources familiar with the transaction.
The company paid the ransom in cryptocurrency within hours of the attack, facing pressure to get gasoline and jet fuel flowing to major cities along the Eastern Seaboard again. Sources close to the situation claim government officials were aware of the transaction.
After receiving the payment, the hackers provided the operator with a decrypting tool to restore its disabled computer network. However, the decryption tool was so slow the company continued using its own backups to restore the system.
Learn more: Yahoo Finance > Colonial Pipeline paid hackers nearly $5 Million in Ransom
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.