Department of Justice Recovers $2.3 Million in Bitcoin Ransom Paid to Colonial Pipeline Hackers

A portion of the ransom payments made to criminals responsible for the Colonial Pipeline cyber attack that crippled fuel supplies across America’s east coast last month have been recouped.

According to officials from the Department of Justice, law enforcement has been able to recoup $2.3 million worth of bitcoin that was previously paid to DarkSide, the criminal cyber gang responsible for the attack on Colonial Pipeline. “Today we turned the tables on DarkSide,” said DOJ deputy attorney general Lisa Monaco at a press briefing, adding that the funds were collected through a court order.

The DOJ explained that it had identified a crypto wallet used by the hackers when they received payment from Colonial. “Using law enforcement authority, victim funds were seized from that wallet, preventing Dark Side actors from using them,” said FBI Deputy Director Paul Abbate. According to court documents obtained by CNBC, the the wallet housing the bitcoin payment was located in Northern California, which made it significantly easier for law enforcement officers to recover the funds as opposed to the wallet being located on an international network.


Information for this briefing was found via CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

MicroStrategy Dropped From S&P Small Cap 600 Index

It appears that not everyone on the institutional side of capital markets is in love...

Sunday, September 5, 2021, 09:00:00 AM

El Salvador’s Bukele: Bitcoin Will Hit $100K in 2022

El Salvador’s head of state forecasts that bitcoin will soar to a six-digit price target...

Wednesday, January 5, 2022, 04:17:00 PM

Spencer Schiff, Former Bitcoin Bull, Now Believes AI Is the Answer

Spencer Schiff, known for advocating Bitcoin as the top cryptocurrency, has taken an unexpected turn,...

Tuesday, August 1, 2023, 02:56:00 PM

PayPal’s Recent Move Could Set Stage For Continued Upward Bitcoin Price Momentum

In a very constructive move for Bitcoin and other cryptocurrencies, PayPal has launched a new...

Saturday, October 24, 2020, 01:47:00 PM

Hive Blockchain Announces Purchase of 4,180 Miners, Preliminary Quarterly Mining Results

Hive Blockchain (TSXV: HIVE) this morning announced that it is significantly improving its bitcoin mining...

Monday, January 4, 2021, 07:58:04 AM