Disrupting Ransomware Profits

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U.S. Deputy Attorney General Lisa Monaco said investigators have recovered more than $2 million in cryptocurrency paid in ransom to hackers responsible for the Colonial Pipeline shutdown in early May. Photo: Jonathan Ernst/Getty Images

U.S. authorities have recovered roughly $2.3 million in digital currency that the operators of the Colonial Pipeline had paid to the hackers who conducted a ransomware attack in early May, according to the Justice Department. The company paid 75 bitcoin, roughly $4.4 million at the time, in ransom, and the government recovered 64 bitcoin from a digital wallet belonging to the hackers. Due to fluctuations in the price of cryptocurrency, the dollar value recovered was a little more than half of the dollar value of the ransom payment.

https://tpcaldwell.substack.com/p/disrupting-ransomware-profits?r=dzu8q&utm_campaign=post&utm_medium=email&utm_source=copy

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T.P. Caldwell is a writer, editor, photographer, and videographer who began his career as an apprentice printer at a weekly community newspaper. During his career as a journalist, he gained experience in all aspects of newspaper production, including working as a reporter, editor, publisher, and weekly newspaper owner.