US FBI Successfully Recovers Bitcoin Paid to Pipeline Hackers

Tracking Bitcoin Ransom Payments for the Colonial Pipeline Oil Pipeline

[Asia Economy New York=Correspondent Baek Jong-min] The U.S. government has recovered a significant portion of the $4.4 million (approximately 5 billion KRW) worth of Bitcoin provided to hackers who attacked an oil pipeline.

[Image source=Reuters Yonhap News]

On the 7th (local time), CNN cited sources reporting this. Following this report, the Department of Justice also announced that it had seized 63.7 Bitcoins worth $2.3 million.

The U.S. government had concluded that the hacking group 'DarkSide,' based in Russia, carried out a ransomware attack demanding ransom after hacking the pipeline company Colonial Pipeline.

When the pipeline, which supplies most petroleum products to the U.S. East Coast, was shut down, the CEO of Colonial provided hackers with $4.4 million worth of Bitcoin to resolve the situation.

Although there was criticism that this response could further encourage hacker attacks, another situation was unfolding behind the scenes.

While complying with the hackers' demands, Colonial cooperated with the Federal Bureau of Investigation (FBI). Thanks to this, the FBI was able to track the cryptocurrency wallets used by the hackers.

CNN described this case as an unusual event where ransom paid to hackers in cryptocurrency was recovered.