The US Department of Justice has recovered $2.3 million in bitcoin from the Colonial Pipeline infrastructure after the DarkSide ransomware assault.
The US Department of Justice (DoJ) has revealed that it has recovered 63.7 bitcoins (BTC) worth $2.3 million following a ransomware attack on the Colonial Pipeline. The stolen cryptocurrency represents a portion of the ransom requested by the cyber organization. The FBI possessed the private key to a specific address. Thus law enforcement was able to follow the transactions, according to the notification.
The Colonial Pipeline system was attacked with ransomware by the hacking organization DarkSide.
The Colonial Pipeline infrastructure was attacked by a hacker gang named DarkSide, which used ransomware to shut down essential services. Concerns regarding cybersecurity and the usage of bitcoins in ransomware attacks arose very immediately in response to the ransomware outbreak. To recover $2.3 million in bitcoin, the Ransomware and Digital Extortion Task Force collaborated with other authorities. This law enforcement section was established in response to the rising number of ransomware and cryptocurrency extortion attempts. In early May of this year, the Colonial Pipeline was assaulted, and the attackers demanded a $5 million bitcoin ransom.
Regulators are concerned about ransomware assaults.
The Colonial Pipeline first stated that it would not pay the ransom. However, when no other options were available, it shifted course. Although US authorities advise against paying ransom demands, firm leaders were obliged to do so once it substantially impacted operations. Only hours after the incident, the payment was made. The recent increase in ransomware attacks has prompted bank regulators and other government agencies to combat these crimes quickly. As previously reported, US President Joe Biden intends to speak about cryptocurrencies at the forthcoming G-7 summit.