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Colonial Pipeline Hackers ‘DarkSide’ Grabbed Over $90M in Bitcoin Before Shutting Down

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  • Whereabouts of the money are not clear
  • DarkSide has since shut its operation
  • Location speculated to be in Eastern Europe or Russia

Ransomware is again in the news following the American gasoline pipeline firm Colonial Pipeline attack, which had its network shuttered by hackers. The oil company had to pay $5 million in cryptocurrency to unlock its network. Darkside, described as a “ransomware-as-a-service” (RaaS) hacking group by the US Government, is based either in Eastern Europe or Russia. 

The amount could be the tip of the iceberg, and DarkSide’s ransomware haul to date, according to a report by Blockchain analytics firm Elliptic, could be around $90 million to date. Elliptic dug deeper into DarkSide’s ransomware haul and found that 47 payments, all from the distinct wallet, were made to Darkside’s cryptocurrency wallet. Elliptic added that there could be further transactions that are still to be uncovered. 

The Pipeline Attack and its effects

Colonial Pipeline attack crippled the firm’s network and led to severe fuel shortages across South East United States. The attack led to gas shortages and panic across the US. What is increased the worry is that just like the archaic software that runs Colonial Pipeline, other services like water tanks and nuclear power plants also run on the same software. 

Darkside has ceased operation due to US Pressure

CNBC reports that it is not clear where the DarkSide’s funds have gone. Speculations are rife that the US government seized the bitcoins. CNBC reports that Darkside is either based in Eastern Europe or Russia. The group has since shut down and withdrawn its Bitcoin wallets after the high-profile attack on Colonial Pipeline. The Biden Government also hit back, and members of the group have lost access to many of its servers. The group received an email from DarkSide’s affiliates, which said that it was shutting down “due to the pressure of the US.”

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