Hacker group received $90 mn in Bitcoin ransom payments
According to the report, the hacker group behind the Colonial Pipeline cyberattack received over $90 million in bitcoin ransom payments over the last nine months from 47 victims before the group shut down last week. The attack, believed to have been done by cyber terrorist group DarkSide, forced the company to shut down around 5,500 miles of pipeline. That cut down on gas delivery in several states.
London-based blockchain analytics firm Elliptic said that it had identified the bitcoin wallet DarkSide used to collect the bitcoin ransom payments, the report stated. That was the same day DarkSide closed down, citing the loss of access to its servers and its crypto wallets being emptied.
Meanwhile, Bitcoin analysts said they think the cryptocurrency’s deepest selloff will likely intensify. Evercore ISI’s Rich Ross said he thinks prices will likely fall back to the 200-day moving average, the report stated. That would follow the path of other speculative assets and would put Bitcoin back to a $40,000 value. Currently it’s valued at just under $44,000.
But others will be looking for patterns of “lower highs and lower lows,” according to the report. Those people think that Tesla Founder Elon Musk’s tweets will likely keep traditional investors out of the proceedings.
Bitcoin is up over 300 percent since last May, the report stated, and some newer crypto believers have been shaken by the speed of the recent rout, throwing some doubt at the idea that crypto is maturing.
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