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The Feds Put U S Pipeline Operators On Notice: Minimize Natural Gas Releases

Following Colonial Pipeline Ransomware Attack, Oil and Natural Gas Companies Must Prepare for New Regulations and Added Scrutiny of Cybersecurity Programs | Davis Wright Tremaine LLP

Colonial Pipeline Darkside ransom hack shows nobody safe

The largest pipeline system for refined oil products in the US, the Colonial Pipeline, was shut down last week after a ransomware cyberattack. On May 12, the pipeline initiated the restart of operations but the attack highlights the risk of cyber-security threats against important energy infrastructures. It was later reported that Colonial Pipeline paid nearly $5 million as a ransom to hackers after the company fell victim to the cyberattack. Marcin Zaborowski, policy director of the GLOBSEC Future of Security Program, told New Europe on May 13 that companies must assume that sooner or later they will become cyber-security targets. They must invest in the state-of-the art security programs, which must be constantly updated,” he said, arguing that the blockchain technology provides best protection against unwanted interference of third parties.

FAST THINKING: How to stop the next pipeline hack

FAST THINKING: How to stop the next pipeline hack Fast Thinking by Atlantic Council GET UP TO SPEED Ransomware is rampant. The biggest fuel pipeline in the United States was shut down in recent days after hackers stole some one hundred gigabytes of data from Colonial Pipeline and threatened to release it unless the company paid up. The hack has been tied to an Eastern European (and possibly Russia-based) collective known as DarkSide, and US President Joe Biden has said that Russia bears some responsibility for the hack, even though the attack does not appear to have been state-sponsored. How can companies fight back against this rising trend of ransomware attacks? What can the Biden administration do? And what will this mean for the prices you pay at the pump? Our experts are here to fill you in, free of charge.

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