![]() ![]() ![]() The value of the cryptocurrency bitcoin has dropped to below $35,000 in recent weeks after hitting a high of $63,000 in April.Īs a result, the government recovered about 60 of the 75 bitcoin paid, but the value has dropped, falling short of the total dollar amount Colonial paid.īitcoin seizures are rare, but authorities have stepped up their expertise in tracking the flow of digital money as ransomware has become a growing national security threat and put a further strain on relations between the United States and Russia, where many of the gangs are based. On Monday, the Justice Department said it had recovered some $2.3 million in cryptocurrency ransom paid by Colonial Pipeline.Ĭolonial Pipeline previously had said it paid the hackers nearly $5 million to regain access. Deputy Attorney General Lisa Monaco urged companies to tell federal authorities whether they paid ransom to cyberattackers, information that can help investigators.īlount said even after getting the key from the hackers, the company is still recovering from the attack and is bringing back seven finance systems that have been offline since May 7. A company spokesperson later clarified the $200 million was for IT overall, which includes cyber security. When pressed to answer how much Colonial has spent to keep its pipeline cyber secure, Blount repeated that amount. The company notified the FBI within hours.īlount said Colonial has invested over $200 million over the last five years in its IT systems. "It was our understanding that the decision was solely ours to make about whether to pay the ransom," he said.īlount said Colonial did not have a plan in place to prevent a ransomware attack, but did have an emergency response plan. It uses industry-leading encryption technology for your vault, biometric authentication, applies a zero-knowledge. It excels in cross-platform functionality, ease of use, good prices, and, most importantly, robust security. ![]() Blount said he made the decision to pay ransom and to keep the payment as confidential as possible because of concern for security. 1Password is one of the best password managers on the market for several reasons. ![]()
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