What was the Colonial Pipeline incident?
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What was the Colonial Pipeline incident?
On May 7, 2021, Colonial Pipeline, an American oil pipeline system that originates in Houston, Texas, and carries gasoline and jet fuel mainly to the Southeastern United States, suffered a ransomware cyberattack that impacted computerized equipment managing the pipeline.
What companies own the Colonial Pipeline?
Currently, Colonial is owned by six companies:
- Koch Industries (28.09\%)
- South Korea National Pension Service and KKR through Keats Pipeline Investors (23.44\%)
- Caisse de depot et placement de Quebec (CDPQ) (16.55\%)
- Shell Pipeline (16.12\%)
- Industry Funds Management (15.80\%)
How did the FBI recover Bitcoin?
On 13 May, the general public learned that Colonial Pipeline paid approximately 75 Bitcoins, or around US$5M, in ransom. On 7 June, the US Federal Bureau of Investigation (FBI) announced that it recovered nearly $2.3M of the stolen funds using money flow analysis and other investigative techniques.
What states does the Colonial Pipeline serve?
The pipeline travels through the coastal states of Texas, Louisiana, Mississippi, Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania, and New Jersey. Branches from the main pipeline also reach Tennessee.
Why is the pipeline important?
Pipelines take both natural gas and oil over vast distances — from often-remote locations to the populated places where we need the products. In the U.S., 66 per cent of crude oil and refined products are moved through pipelines, and almost all natural gas is delivered via pipeline.
Who invented the pipe line?
Samuel Van Syckle, an inventive oil worker from New Jersey, was one of the first to focus on transportation. Van Syckle constructed the first successful pipeline in 1865 that extended five miles and connected Pithole to the Oil Creek railroad. The logistics of transporting oil defined the early petroleum industry.