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Colonial Pipeline CEO explains his decision to pay ransom

ByPR 24
Colonial Pipeline CEO explains his decision to pay ransom | IT Security News

This article has been indexed from Cybersecurity

The CEO of Colonial Pipeline told the Wall Street Journal he authorized a $4.4 million ransom payment because executives were unsure how badly the cyber attack breached its systems and how long it would take to bring the pipeline back. He said he knew the decision was controversial and wasn’t comfortable paying money to the hackers, but felt it was the right thing to do for the company. CNBC’s “Squawk Box” crew discuss.

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