The pipeline paid the ransom

Follow Us Get the newsletter Greetings, Quicktake readers! This week, the gasoline pinch may grind on for a week or longer after the Colonial Pipeline hack. Plus: Israel steps up airstrikes on Hamas amid the worst violence in years. Stream now for free. Paid Post Southwest Carpenters stand ready to rebuild our failing infrastructure and partner with members of Congress to bring good-paying jobs to the Southwest. That means not only fixing our country's roads and bridges, but also protecting drinking water, modernizing schools, and expanding our energy future.   Southwest Regional Council of Carpenters Fuel crunch lingers after pipeline hack Fuel is flowing through the Colonial Pipeline again after a cyberattack shut down America's largest petroleum artery for five days—albeit at a much slower rate. Shortages continued in large parts of the Eastern and Southern U.S. on Thursday, and it'll likely take days to fully replenish supplies. President Joe Biden asked customers not to hoard gasoline. "Don't panic, number one. I know seeing lines at the pumps or gas stations with no gas can be extremely stressful. But this is a temporary situation. Do not get more gas than you need in the next few days." The resumption of service coincided with reports that Colonial Pipeline paid a nearly $5 million ransom in cryptocurrency to Eastern European hackers last week "within hours" of the ransomware attack. U.S. officials were reportedly aware. The news contradicted reports from only a day earlier that the company had no intention of paying an extortion fee. The hackers, which the FBI said are linked to a group called DarkSide, are believed to be located in Russia. The criminal franchise specializes in digital extortion and has made millions of dollars since last year, racking up scores of victims from oil companies to law firms to banks. Debilitating hacks have become stubbornly common in recent years. Increasingly, perpetrators are also stealing data and threatening to reveal trade secrets, stepping up pressure on companies to pay the ransom. The amount paid by victims of these hacks shot up 311% in 2020, reaching about $350 million in cryptocurrency, according to a report last month. What to watch if ...you're prone to eco-conscious crypto. Elon Musk halted sales of Tesla cars using Bitcoin over its "insane" energy use that uses 66 times more electricity now than it did in 2015, according to a report. He still likes Dogecoin, though. ...you think it can't happen here. A surge of attacks in Vancouver has made it the anti-Asian hate crime capital of North America. This stems from a history of racial tensions, as Asians were scapegoated for the city's housing crisis. ...Cinco de Mayo passed you by. The meteoric rise in luxury tequila's popularity has farmers growing agave in Australia. Just don't call their products "tequila," which remains exclusive to areas of Mexico. Episodes to binge watch now Space Tourism Is Getting Cheaper, But Oxygen Isn't Guaranteed The Man Who Faced Down FDR and Won The Day Oil Went Negative, These Unlikely Traders Made $660M How America's Wealth Gap Shaped the Modern Economy The SPAC King Reigns as Blank-Check Companies Hit the Wall One question, answered What's happening in Israel? Israeli air and ground troops launched a blistering attack on the Hamas-run Gaza Strip early Friday, sweeping aside international appeals for de-escalation, amid the worst outbreak in years of violence between Arabs and Jews inside its borders. Meanwhile, Gaza residents somberly marked the end of the holy month of Ramadan. We want to know Would you eat lab-grown sushi? The burgeoning alternative protein market is getting more crowded with new options. San Francisco startup Wildtype unveiled a prototype for cell-based salmon, which it says could help ease the burden on the world's warming, overfished oceans. Tempted to try it? Watch this and tell us what you think. Our favorites of the week How States Are Tempting Residents to Get the Covid Vaccine This City Is the Anti-Asian Hate Crime Capital of North America Who Is Rep. Elise Stefanik, Liz Cheney's Likely Replacement? People Are Returning Pets They Adopted During Lockdown How to Take a Luxury Trip With Kids During Covid Treehouse or Garden Pod? Creative Remote Working Options We launched a 24/7 streaming network to reinvent news with live global coverage and original shows on business, tech, politics and culture. Make sense of the biggest stories changing your business and your world. Stream now for free.   Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.   You received this message because you are subscribed to Bloomberg's Bloomberg Quicktake newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022