Feds Seized the Colonial Pipeline Bitcoin Ransom in California

Feds Seized the Colonial Pipeline Bitcoin Ransom in California


The Justice Department announced on Monday that it had recovered $2.3 million of the cryptocurrency ransom paid by Colonial Pipeline Co. to ransomware hackers. The funds were seized from an account located in California, leading many to suspect the ransom was paid to a Coinbase wallet — a claim the cryptocurrency exchange has denied.

Reuters reports that Deputy Attorney General Lisa Monaco stated this week that investigators have seized 63.7 Bitcoins, valued at around $2.3 million currently, paid by Colonial Pipeline Co. to ransomware hackers that hijacked the pipeline’s systems in a major hack that saw massive shortages at U.S. East Coast gas stations. 

The Justice Department “found and recaptured the majority” of the ransom paid by Colonial, according to Monaco. An affidavit filed on Monday stated that the FBI was in possession of a private key that was used to unlock a bitcoin wallet that received most of the ransom funds.

Continue reading

You Might Like

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend