The Colonial Pipeline ransomware incident raises new questions about why the U.S. is so vulnerable to such crippling strikes.
The Colonial Pipeline ransomware attack is just the latest in the past year of cyberattacks that have had detrimental impacts to the United States.
"It was inevitable that we would reach a point where one of these attacks would have significant economic damage," Dmitri Alperovitch, the executive chairman at Silverado Policy Accelerator and a former CTO of CrowdStrike, said.Hackers can successfully infiltrate a system's computer network and deploy malicious software to effectively seize control, holding hostage files or data until a ransom is paid.
"Many of these ransom operations are more about extortion than ransomware where they will steal data -- typically emails -- and threaten their release and try to embarrass companies and hopefully find -- from their perspective -- find something that these companies will really want to keep quiet, whether it's intellectual property or information on customers," Alperovitch said,"and that would increase the likelihood of actually getting ransom."
MORE: Biden signs executive order to improve government response to cyberattacksBloomberg via Getty ImagesA Colonial Pipeline Co. storage tank stands at a facility in the Port of Baltimore in Baltimore, May 11, 2021.MORE: Colonial Pipeline restarts operations following hacking shutdown headtopics.com
The boom in ransomware, he said, coincides with the boom in cryptocurrency."We have seen a huge explosion in ransomware cases in the last 10 years and really coincides with the development of cryptocurrency," he explained."Before we had cryptocurrency there was really no way that these criminal groups could get ransoms in a pseudo-anonymous way that wouldn't be tracked back to them. Bitcoin and other cryptocurrencies have given them that opportunity."
Jim Langevin, a Rhode Island Democrat and founding member of U.S. Cyberspace Solarium Commission, told ABC News that proper funding is needed in order to further secure the nation from cyberattacks."We need to strengthen the system by properly funding system to develop their own inherent capabilities and expertise if a situation like this arises again," he explained.
Langevin called the ransomware attack on Colonial Pipeline one of the worst he's seen."It is absolutely a road map for enemies and adversaries to potentially carry out a devastating blow against our critical infrastructure and really damage not only our economy, but lead to injury or potentially loss of life," he explained."We are not prepared. We're not ready. We need to do more. We need to step up our game."
Jim Watson/AFP via Getty ImagesSignage delivers warnings at Colonial Pipeline Baltimore Delivery in Baltimore, May 10, 2021.He said public and private partnerships are needed."This is not a problem with respect to cybersecurity that government could solve on its own or that that private sector can solve on its own," he said."It's going to be more of a collaboration and a partnership, sharing intelligence, sharing relevant threat information. That's what's going to get us to stronger cybersecurity." headtopics.com
Bossert agreed."We need far better technical controls. We need a much better integration operationally between security vendors, companies and the United States government, and we're going to need to be careful," he said."We need to start acting collectively together to achieve a result, otherwise we're all going to stand alone and fail all by ourselves. This is a collective problem, there are better technical solutions out there."
Biden's executive order mandates that companies that work directly with the federal government must immediately disclose a cyber breach to the federal government.MORE: Gas prices hit $3 a gallon for 1st time in nearly 7 years amid Colonial Pipeline saga
The Cybersecurity and Infrastructure Security Agency, an arm of the Department of Homeland Security, is responsible for protecting the nation's cyber infrastructure.Acting CISA Director Brandon Wales laid out the agency's shortfalls before Congress this week, saying they boil down to funding and the not keeping pace with fast-evolving technology.Read more: ABC News »
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All of our infrastructure has to be upgraded. Because they were focused on the Russian hoax. the question should be was it a ransom or price manipulation as the consequence was a price spike and panic hoarding Don't pay ransom...but here's where to buy Bitcoin 2017 Bitcoin Demand Drives $1.4B Ransomware Biz In US 2020 Extortion Economy: Shadowy Ransomware Payouts Bitcoin Aids Ransomware Biz
Israel targets int’l press building in Gaza, adding to its war crimes in the Palestinian territories. We condemn this Israeli aggression, which knows no boundaries. HearGaza Did colonial pipeline allow it to occur? We are weak with JoJo the clown Biden in charge Israeli attacks on the Palestinians are against international law and basic morality and must come to an immediate end. We urge the world to take action now to stop the new waves of Israeli aggression. Turkey will continue to stand by the Palestinian people. HearGaza
TRUMP! The honest answer: We are not the sharpest cats in the kennel. Until you get money out pf politics we will remain a dysfunctional array of fools. This doesn’t have anything to do with politicians! It’s private industry who do not invest in best, or even good, cyber-sec practices.
Video shows fight break out at North Carolina gas station amid fuel shortageThe altercation took place amid reports that nearly 1,800 stations across the Eastern U.S. have run out of gas after a ransomware attack halted operations on the Colonial Pipeline last week.
For starters, all large corporations, need the best computer security on the planet. This they need to do, no matter the $$ cost. Because there are no Federal cyber security standards. We have air and water quality standards. We have accounting standards but no standards for cyber security. Maybe because we have a space force rather than a division dedicated to cyber security?
we had a Russian asset in the White House for 4 years Simple! Because the Deomcrats are in charge and the United States Of Woke otherwise known as 'We kneel and surrender' is the motto. The world is laughing at this clown s**t show of weakness. Trillions still being wasted on pet projects and Pork packing bulls**t.
The best part is. Regular people don’t know there’s manual valves for all of it. It’s mandatory for fire safety. U think it was really turned off remotely? And couldn’t be turned back on. 😂😂😂😂😂 It's because they're stupid partly because the US is run by all white dinosaurs who are all like 74 years old who don't know how to unlock a smartphone.
Time to get off of fossil fuels Because we have bad infrastructure Because. We. Spend. Money. In. The. Wrong. Places.
The gas pipeline hack shows just how much ransomware can disrupt our livesThe ransomware attack on the Colonial Pipeline shows how desperately the U.S. needs to act to get cyber crime under control. how is this affecting west coast
And why we are so eager to pay ransoms. Raises OLD questions. Trump left us defenseless. We need to pass Biden's infrastructure bill to boost security. Yeah. Why? I just moved to your city, who wouldn't mind showing me interesting places? ⚽For football betting fans Search for the channel ' LADSBROKE ' on TELEGRAM and join winning team making money through sports betting, the guy is good with punting odds, best tipster so far in football betting tips.
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Biden Asks Americans To Stop Panic-Buying Gas And Making Supply Issue Worse“Gasoline supply is coming back online,” he said of the Colonial Pipeline after a ransomware attack. “Panic-buying will only slow the process.”
US gas prices could rise as Colonial Pipeline remains closed after ransomware attackThe company that owns the pipeline has no plans to pay the ransom and is instead working with a cybersecurity firm to restore their data. Was it Republicans by any chance? This is a perfect excuse to rise oil prices, because they want to recover money from the PANDEMIC and we are in the transition to Renovable Energy, Clean Energy EspuelasVox bilinkis gfrias gteissier
Colonial Pipeline initiates restart of pipeline operations, says it'll take several days for product delivery to return to normalColonial Pipeline announced Wednesday that it has 'initiated the restart of pipeline operations' as of 5 p.m. Eastern time, following a ransomware-related...