Colonial Pipeline Will Probably Not Have to Pay Ransom to Hackers

After a ransomware attack shut down Colonial Pipeline and caused fuel shortages and panic buying on the East Coast, the company will probably not have to pay the hackers. That’s according to CNN.

The report says that the company has worked with US officials and retrieved the most important stolen data. And early action from the company could help it restore operations without paying the hacking group called DarkSide millions in cryptocurrency.

After the attack late last week, the company shut down all operations. It transports more than 100 million gallons of gasoline and other fuel from Houston to New York daily.

Since the attack, gas prices have risen and a number of gas stations on the East Coast have shut down due to lack if gas. There has also been panic buying.

Late Wednesday, the company said it restarted its pipeline operations but it may take a few days for it to return to normal.

The attack is the latest high-profile use of ransomware, which continues to be a substantial cybersecurity issue for companies of all sizes.

About the Author

Brent Dirks is senior editor for Security Today and Campus Security Today magazines.

Featured

  • Maximizing Your Security Budget This Year

    7 Ways You Can Secure a High-Traffic Commercial Security Gate  

    Your commercial security gate is one of your most powerful tools to keep thieves off your property. Without a security gate, your commercial perimeter security plan is all for nothing. Read Now

  • Surveillance Cameras Provide Peace of Mind for New Florida Homeowners

    Managing a large estate is never easy. Tack on 2 acres of property and keeping track of the comings and goings of family and visitors becomes nearly impossible. Needless to say, the new owner of a $10 million spec home in Florida was eager for a simple way to monitor and manage his 15,000-square-foot residence, 2,800-square-foot clubhouse and expansive outdoor areas. Read Now

  • Survey: 72% of CISOs Are Concerned Generative AI Solutions Could Result In Security Breach

    Metomic recently released its “2024 CISO Survey: Insights from the Security Leaders Keeping Critical Business Data Safe.” Metomic surveyed more than 400 Chief Information Security Officers (CISOs) from the U.S. and UK to gain deeper insights on the state of data security. The report includes survey findings on various cybersecurity issues, including security leaders’ top priorities and challenges, SaaS app usage across their organization, and biggest concerns with implementing generative AI solutions. Read Now

  • New Research Shows a Continuing Increase in Ransomware Victims

    GuidePoint Security recently announced the release of GuidePoint Research and Intelligence Team’s (GRIT) Q1 2024 Ransomware Report. In addition to revealing a nearly 20% year-over-year increase in the number of ransomware victims, the GRIT Q1 2024 Ransomware Report observes major shifts in the behavioral patterns of ransomware groups following law enforcement activity – including the continued targeting of previously “off-limits” organizations and industries, such as emergency hospitals. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation. 3

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.” 3

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings. 3