Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Hackers were paid a ransom, Colonial Pipeline boss confirms

Published

on

Colonial Pipeline's petroleum farm.


The boss of one of the United States’ biggest fuel pipelines says his company paid a $USD 4.4 million ransom to hackers.

The Colonial Pipeline experienced a cyberattack that shut down its nationwide network on 7 May. As such, millions of barrels of petrol, diesel and jet fuel stopped flowing.

Joseph Blount is the CEO of the Colonial Pipeline. He told the Wall Street Journal the ransom was a “highly controversial decision”. But he conceded it “was the right thing to do for the country”.

The 8,900 kilometre pipeline carries 2.5 million barrels a day, or 45 percent of the east coast’s supply of critical fuel supplies.

“I will admit that I wasn’t comfortable seeing money go out the door to people like this,” Mr Blount explained

However, President Biden believes there was evidence that Russian hackers were involved in the attack.

“So far there is no evidence from our intelligence people that Russia is involved. Although, there is evidence that the actors, ransomware is in Russia… they have some responsibility to deal with this.”

The hackers are from DarkSide, who allegedly steal from larger corporations and give the ransom funds to charity.

The group released a statement on the dark web. “From today, we introduce moderation and check each company that our partners want to encrypt to avoid social consequences in the future.”

After the cyberattack, President Joe Biden signed an executive order to strengthen cybersecurity defences across the US.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Boeing face delivery delays following guilty criminal charge plea

Published

on

Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

Continue Reading

Money

Blockchain sparks a transformative influence in Australia

Published

on

Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

Continue Reading

Money

From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

Published

on

Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

Continue Reading

Trending Now