Wednesday 12 May 2021

USA: Colonial Pipeline cyber attack: Will gas shortage, price hikes follow?

USA TODAY shows that prices at the gas pump are often based on these 5 factors, which are constantly in flux. 

Colonial Pipeline did not say what was demanded or who made the demand. Ransomware attacks are typically carried out by criminal hackers who seize data and demand a large payment in order to release it.

The attack on the company, which says it delivers roughly 45% of fuel consumed on the East Coast, underscores again the vulnerabilities of critical infrastructure to damaging cyberattacks that threaten to impede operations. It presents a new challenge for an administration still dealing with its response to major hacks from months ago, including a massive breach of government agencies and corporations for which the USA sanctioned Russia last month.

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