Paying the ransom was one of the “toughest decisions”: CEO – paying the ransom was one of the ‘toughest decisions’ ceo
On May 7, cybercriminals ransomware disrupted the distribution network of America’s largest Colonial Pipeline. This pipeline delivers fuel to the Southeast region of the US.
Ransomware is created by cybercriminals for malicious purposes. These are a type of software, which are put into the computer through email or other means.
Colonium Pipeline CEO Joseph Blount will face the Senate Homeland Security Committee on Tuesday and argue before it that his decision to pay ransoms to hackers to end fuel shortages was the right move.
Fuel company Colonial Pipeline paid a ransom of $4.4 million to a gang involved in cybercrime. The US Department of Justice revealed that most of the ransom amount had been recovered.
Blount said, “It was one of the hardest decisions of my life. At the time, I kept this information with me because we were concerned about operational safety. But I believe that in this situation it was the right thing for the country to restore critical infrastructure as soon as possible.
The US Federal Investigation Agency (FBI) is investigating the case and a Russian gang of cyber criminals is being blamed for the cyber attack.
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