US Justice Dept. seizes $2.3 million in bitcoin paid to Colonial Pipeline hackers

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US Justice Dept. seizes $2.3 million in bitcoin paid to Colonial Pipeline hackers

Late on Monday, US Justice Department said in a statement that it had recouped a lump-sum of $2.3 million worth of bitcoin that Colonial Pipeline, the largest pipeline system in the United States, had paid off to gain access into its networks following the most catastrophic cyberattack on a US entity ever.

On top of that, Deputy Attorney General Lisa Monaco was quoted saying followed by the statement that US investigators had recovered about 63.7 bitcoins, valued at roughly $2.3 million, which Colonial had to pay off following a hack of its pipeline networks that led to a mass-scale mayhem on US east coast gas stations.

Although, it remained unclear how the United States Justice Department had recovered the ransoms that Colonial paid to a hacker group called as Darkside, Monaco added, “Justice Department has found and recaptured the majority of the ransom paid by Colonial.

US Justice Dept. recoups $2.3 million worth of bitcoin paid to Colonial hackers

In point of fact, Colonial Pipeline, the largest US natgas pipeline network having had a capacity to funnel 3 million barrels of fuels per day through its 5,500-mile-long pipeline system, said earlier last month that it had to pay out roughly $5 million in order to regain access into its networks, however, the hack led to a mass-scale shutdown that lasted more than a week while causing a sharp shoot-up in gas prices across the country including the Capital.

If truth is to be told, the Colonial Pipeline hack had created a major political turmoil for Biden Administration last month, since a number of Democratic lawmakers had accused Russia-based hackers behind the attack. Moscow had denied any kind of tie-up with the hack and the hackers had said that they had been looking to make money, eventually allaying concerns over a potential political stand-off.

However, the issue would likely to be discussed, when the US President Joe Biden and his Russ counterpart Vladimir Putin would meet in the latest Geneva summit scheduled to take place later this month, said US Commerce Secretary Gina Raimondo.