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Hackers take down a major fuel pipeline
One of the U.S.’s biggest pipeline operators, Colonial Pipeline, disclosed late last week that it was forced to shut down after it was hit by ransomware. It’s a sobering reminder that cybercrime is one of the most serious threats that companies face.
Colonial acknowledged that its corporate computer network had been hit, crippling the company that supplies 45 percent of the East Coast’s fuel. (A criminal gang known as DarkSide was identified as the perpetrator.) While the shutdown, now in its third day, hasn’t yet had a major impact on the markets for gasoline, diesel or jet fuel, analysts warned prolonged downtime could lead to higher gas prices as demand rises when the economy fully reopens. Colonial declined to say when it would restart operations.