They paid the ransom?? Bitcoin it's an issue

[HJCane]

So we learned yesterday that Colonial paid the 4 million $ ransom with bitcoin (as requested by the criminals) This is a BIG mistake and a HUGE problem. It has been going on for awhile we just don't hear about it that often until it effects us directly like gas or electricity etc....causing an urgent situation for citizens. This will most certainly continue now no doubt about it. The criminals have been rewarded and emboldened. I have a sneaky suspicion the Biden Administration blessed this payment of ransom. When asked about it directly yesterday Biden replied " no comment" or something along those lines.

We haven't heard the last of this I assure you.

The payment had to be in Bitcoin. Can't track it untraceable. You can bet your azzes that the Government will soon begin clamping down on Bitcoin with regulations because this is a crime syndicates dream come true. Once they do, (they should) expect a crack in this market. It will NOT continue to be a free for all market much longer.

IRS announced today it will now seize Bitcoin holdings for owed and unpaid taxes.

 

[NO.SHORECANE]

Huge mistake.

 

[HJCane]

Huge mistake.

Dumb administration, dumb company, bad precedent. Strangely we learn this has become commonplace

 

[central17]

It is an additional crime to use a firearm while committing the base crime. Why would use of Bitcoin as a central element of a crime be viewed any differently? I am all for Crypto Currency to protect against governmental currency manipulation in global markets (China says Hi) but Bitcoin cannot become the "preferred currency of 9 out of 10 criminals.

The countries political class has wasted so much time with the political BS, fund raising/bribes and money give aways. Things like hacking, identity theft, human trafficing and big tech/social media monopolies have not even begun to be seriously discussed.

 

[BreakingCane]

So we learned yesterday that Colonial paid the 4 million $ ransom with bitcoin (as requested by the criminals) This is a BIG mistake and a HUGE problem. It has been going on for awhile we just don't hear about it that often until it effects us directly like gas or electricity etc....causing an urgent situation for citizens. This will most certainly continue now no doubt about it. The criminals have been rewarded and emboldened. I have a sneaky suspicion the Biden Administration blessed this payment of ransom. When asked about it directly yesterday Biden replied " no comment" or something along those lines.

We haven't heard the last of this I assure you.

The payment had to be in Bitcoin. Can't track it untraceable. You can bet your azzes that the Government will soon begin clamping down on Bitcoin with regulations because this is a crime syndicates dream come true. Once they do, (they should) expect a crack in this market. It will NOT continue to be a free for all market much longer.

IRS announced today it will now seize Bitcoin holdings for owed and unpaid taxes.

Yep, this is why you don’t pay ransomes. You pull in your last good backup and start a clean system.,

 

[central17]

Yep, this is why you don’t pay ransomes. You pull in your last good backup and start a clean system.,

And improve your storage and backup capabilities with some form of ongoing backups, e.g. snap shots. It is sad and amazing how many large and small enterprises do not truly take IT security seriously.

 

[HJCane]

Build security and redundant systems in the event 1 is compromised

 

[central17]

Build security and redundant systems in the event 1 is compromised

True, but the devil is in the details. Redundant systems, if not designed properly, can quickly just have multiple instances of the same problem. But a company the size of Colonial certainly should have had better system design and security. It would not shock me if there was some kind of an internal party involved in the hack?

 

[BreakingCane]

True, but the devil is in the details. Redundant systems, if not designed properly, can quickly just have multiple instances of the same problem. But a company the size of Colonial certainly should have had better system design and security. It would not shock me if there was some kind of an internal party involved in the hack?

Lots of bad security practices going on

 

[El Cubano]

So we learned yesterday that Colonial paid the 4 million $ ransom with bitcoin (as requested by the criminals) This is a BIG mistake and a HUGE problem. It has been going on for awhile we just don't hear about it that often until it effects us directly like gas or electricity etc....causing an urgent situation for citizens. This will most certainly continue now no doubt about it. The criminals have been rewarded and emboldened. I have a sneaky suspicion the Biden Administration blessed this payment of ransom. When asked about it directly yesterday Biden replied " no comment" or something along those lines.

We haven't heard the last of this I assure you.

The payment had to be in Bitcoin. Can't track it untraceable. You can bet your azzes that the Government will soon begin clamping down on Bitcoin with regulations because this is a crime syndicates dream come true. Once they do, (they should) expect a crack in this market. It will NOT continue to be a free for all market much longer.

IRS announced today it will now seize Bitcoin holdings for owed and unpaid taxes.

This would of never of happen under Trump… Shows the weakness of the Biden administration…… Cowards these POS..!!!