No, Federal Officials Didn’t Hack Bitcoin!

Yesterday, the Federal officials announced that they have recovered $2.3 million in bitcoin that Colonial Pipeline paid to a criminal organisation during a ransomware attack. Colonial Pipeline is the largest pipeline system for refined oil products in the U.S.

Apparently, the have been victim of a ransomware attack in the past, where they lost over $4.4 million. Federal officials have been able to recover a part of those funds from the attacker’s wallet.

Deputy Attorney General Lisa Monaco said on Monday that the Colonial Pipeline contacted law enforcement to allow federal agents to track and seize the hacker’s Bitcoin wallet.

“The Department of Justice has found and recovered the majority of the ransom paid.”

Deputy Attorney General Lisa Monaco

Many media outlets claimed that Federal officials were able to “break Bitcoin” in order to get the hacker’s funds.

However, this doesn’t mean that Federal officials hacked Bitcoin. They were able to track the funds using a block explorer.

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