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Energy

Colonial Pipeline CEO admits paying hackers to restore pipeline: WSJ

Company paid $4.4m ransom after fuel flow to US East Coast was cut

Holding tanks at Colonial Pipeline's Dorsey Junction Station in Woodbine, Maryland.   © Reuters

Colonial Pipeline CEO on Wednesday admitted to the Wall Street Journal that his company paid a $4.4 million ransom to hackers as executives were unsure how badly its systems were breached or how long it would take to restore the pipeline.

The 5,500-mile Colonial Pipeline system was closed last week after the most disruptive cyberattack on record, preventing millions of barrels of gasoline, diesel and jet fuel from flowing to the East Coast from the Gulf Coast.

(Reuters)

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