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Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
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Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Colonial Pipeline paid almost $5 million in ransom to allegedly Eastern European hackers, contrary to reports the company had no intention of doing so.

  • 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.

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