Colonial Restarts Gas Pipeline Following Cyberattack

+ more

Colonial Pipeline Co. said it began to resume gasoline shipments late this week, after a cyberattack that caused fuel shortages in several states. President Biden also asked US residents not to panic buy amidst the shortage. Watch below for more thoughts from Bloomberg’s Jamie Tarabay.

 

Host: So, Jamie, operations resuming, when is the actual relief going to come?

Tarabay: Well, it really depends on, you know, just what Colonial is saying. From our point of view in the cybersecurity aspect that we’ve been discussing all of this time, it was only a couple of days ago that the CEO of colonial said that fuel shipments will not resume until all the ransomware has been removed from the system. So we’re really curious about what they’ve done to mitigate that.

We know that they have worked with private cybersecurity firms and with government agencies to try to figure that out. And we’re still waiting to see what they’ve actually got to say. We know that the hackers stole nearly 100 gigabytes of data from the IT network. And Colonial has said that the operational system, which handles the pipelines and the flows, have not been compromised. So whether they’ve been able to separate the two, whether they’ve been able to make one of them work or the other, we just really need to sort of hear from them. We’re not the only ones waiting to hear. In testimony to a Senate committee on Tuesday, Biden administration officials said that they’re still waiting on technical information from Colonial to be able to warn the potential victims.

And that’s the other side of this regarding a ransom, et cetera. We need to hear what the ransom, what the hackers have to say if these shipments go ahead, whether that information that the hackers are holding at ransom will be released or whether Colonial has been able to decrypt the system by itself. We know that also today that President Biden signed the cybersecurity order. And it’s really meant to make every sort of government agency and cooperation that works with governments to boost cyber security aspects and their networks and show a little more accountability and increase their communication.

*Bloomberg contributed to this content

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

 

Latest

The Hidden Value of Energy Management Software
June 11, 2021
Optimally managing the energy of each building is extremely important for every organization. With the majority of energy use going toward HVAC operations, how can facilities management teams boost Read more
New Beginnings: EdTech Enters a Renaissance
June 11, 2021
  The 2020 ASU+GSV was one of the first major edtech events to be postponed or cancelled because of the COVID pandemic. Now it is the first to return. In this episode, Co-founder Deborah Quazzo Read more
Apple Employees Resist a Return to the Office
June 11, 2021
After a year of working from home during the pandemic, 61% of employees prefer being fully remote rather than working in an office setting, as reported by a Growmotely survey. While employers are pushing to get Read more