The U.S. Justice Department said investigators had seized $2.3 million in bitcoin paid by Colonial Pipeline in ransom after last month's hack that led to a widespread gas shortage in the U.S.
Deputy Attorney General Lisa Monaco said investigators had seized 63.7 bitcoins, now valued at about $2.3 million, paid by Colonial after last month's hack of its systems that led to massive shortages at U.S. East Coast gas stations.
A judge in San Francisco approved the seizure of funds from this "cryptocurrency address," which the filing said was located in the Northern District of California. "Right now, prosecution is a pipedream," Vice President John Hultquist of the Mandiant cybersecurity firm said in praising the move. "Disrupt. Disrupt. Disrupt."that led to a spike in gas prices, panic buying and localized fuel shortages. It posed a major political headache for President Joe Biden as the U.S. economy was starting to emerge from the COVID-19 pandemic.
"Holding cyber criminals accountable and disrupting the ecosystem that allows them to operate is the best way to deter and defend against future attacks," Blount said.looking at all options to defend against ransomware attacks
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