U.S. Reps Require Colonial Pipeline, Others to Disclose Decision-Making Process for Crypto Ransom Payments

According to CoinDesk on June 4, U.S. Rep. Carolyn Maloney wants Colonial Pipeline and CNA Financial to disclose the full decision-making process that led them to pay cryptocurrency to ransomware attackers to recover data, including how they decided to pay the attackers, any documents or Maloney said paying international criminals to unlock data “would make critical infrastructure a much bigger target.” Maloney set a June 17 deadline to give the companies two weeks to collect the data. Maloney set a deadline of June 17, giving the companies two weeks to collect the material. The news comes on the heels of an attack on Colonial Pipeline, the largest U.S. operator of refined oil pipelines, in which hackers demanded millions of dollars worth of cryptocurrency for ransom.

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