• Most disruptive infrastructure attack ever on U.S. soil

    Apparently. Colonial Pipeline hack. This pipeline sends a lot of the oil from Texas to New Jersey, from where it's distributed to other places. Hackers gained control of Colonial's system and are doing a ransomware action. Colonial took their all their operations offline because they didn't want the hackers to gain access to the IT that controls the pipes. They're currently handling some segments of the pipelines manually.

    We don't know too many details because Colonial hasn't given them to the DHS, reportedly.

    Some gas stations have run dry. Price of gas has already gone up 7 cents in the week, following the regular demand-supply equation. There's been panic buying and long queues, and the airline industry has been affected. Flights have been stopped and they've additional stops in order for planes to fuel up.

    The pipelines serve 90 U.S. military installations and 26 oil refineries, so the ripple effects are still to be seen.

    FBI is saying the hacker is Darkside from Russia, who usually works on big money ransom projects. They have a published list of things they won't hack, and don't seem to want to hurt normal people, although in this case gas prices effects everyone.

    A massive effort is expected to get things running again about a week after the problem started, involving the FBI and other government agencies and a task force assembled by the White House. But it depends whether they can resolve the ransomware situation.

    In recent years, the U.S. has scaled up its oil production and became a net exporter, but is now looking at returning to being an importer of oil.

     
  • Bitcoin drops 30%

    Basically all crypto dropped significantly, after months of increased speculative buying.

    Other factors in the drop: further talk of regulation, ESG (energy use) concerns regarding mining, and China cracking down on crypto.

    In somewhat related crypto news, Bitmix reportedly ceased operations, not long after the tentative conclusion of the DarkSide pipeline hack. Bitmix was a crypto money laundering service used by ransomware hackers.

    Musk tweeted a "diamond hands" image, signifying he wasn't selling.

    About a month later, Musk tweeted a more positive comment on energy concerns with crypto mining, causing Bitcoin to rise from around $35k to around 40k.



     

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