US fuel pipeline hack / Ransomware / Impact on Crypto ?

[Kakmakr]

So everyone probably heard about the Cyber attack on the largest U.S. fuel pipeline in the United States and the sad thing is that the hackers used Ransomware. Now most of us know that the latest trend seems to be that hackers would demand Crypto currencies as a payment option and my guess is that it was also used during this attack. (Can anyone confirm this?)

In any way, we know Janet "Butthurt" Yellen (United States secretary of the treasury) are out to over regulate Crypto currencies, because "The Bitcoin Guy" sabotaged her speech with his "Buy Bitcoin" poster, so this hack will give her and the other regulators an excuse to do this. (Like 9/11 gave them an excuse to spy on US citizens)

Do you think this event is going to hurt the Crypto currency movement in the months to come?

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[Findingnemo]

Maybe not going to affect cryptocurrency in terms of price and adoption in the long term but we can expect a short and sharp dump in the next following days if your assumption is right.

It is going to affect the US economically I guess because they say that they are the super power and having best security system which was broken due to this another incident.

[Kong Hey Pakboy]

This is going to hurt crypto but I don't think that it will be a big time issue though, maybe this will be a talk for about a month and people will move on.

[bryant.coleman]

In any way, we know Janet "Butthurt" Yellen (United States secretary of the treasury) are out to over regulate Crypto currencies, because "The Bitcoin Guy" sabotaged her speech with his "Buy Bitcoin" poster, so this hack will give her and the other regulators an excuse to do this. (Like 9/11 gave them an excuse to spy on US citizens)

People become "butthurt" when they get really old, after realizing that they have remained as losers during their entire life. This has happened to Warren Buffet as well. Every now and then, he suffers from verbal diarrhoea due to his jealousy towards Bitcoin. The same has happened to Yellen. She is bitter due to the fact that it is impossible to control Bitcoin, similar to how the feds control the fiat currency. There may be outbursts and violent seizures happening to such people very frequently, but we need to ignore them.  

[paxmao]

Everything that leads to crypto as a mean of anonymous payment does not make a favour to bitcoin nor alts. The effect on the regulators is quite strong, as they will have to answer to the public opinion firstly for letting the hack happen and then for not being able to identify the parties involved. It will be very easy for everyone to blame cryptos and anonymous coins for the disaster and due to the general lack of knowledge the public opinion may require them to further regulate crypto, which is not good at all for the hodlers.

[avikz]

Do you think this event is going to hurt the Crypto currency movement in the months to come?

I am not sure if the hackers have asked ranson in cryptos. But since it is the trend, let's assume they did ask crypto payment.

This kind of incident definitely hurts cryptocurrencies in general. Not from the price perspective but definitely from the reputation perspective. Cryptocurrency is a trending subject right now and a lot of people are enquiring about it. Masses are flocking to the exchanges after  the tremendous marketing by Elon Musk.

In this situation, whenever there is an involvement of cryptocurrencies with something illegal, is going to hurt the reputation and probably discourage few people to get a hands on experience of crypto.

Nothing more!

[Hydrogen]

So everyone probably heard about the Cyber attack on the largest U.S. fuel pipeline in the United States

It helps to recall previous events in 2021 affecting the price of fuel.

Keystone XL pipeline halted as Biden revokes permit

January 20, 2021

TORONTO -- Construction on the long disputed Keystone XL oil pipeline halted Wednesday as incoming U.S. President Joe Biden revoked its permit on his first day in office.

The 1,700-mile (2,735-kilometer) pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast, passing through Montana, South Dakota, Nebraska, Kansas and Oklahoma.

https://abcnews.go.com/International/wireStory/work-keystone-xl-pipeline-suspended-ahead-biden-action-75371464

It is a basic and fundamental principle to say oil pipelines transport crude more efficiently and at lower cost than rail.

Shutting down and eliminating oil pipelines raises the price of fuel, as they must be transported by train instead at greater cost.

If people are even remotely informed and educated, they will call for construction of the keystone pipeline to re-commence, rather than blame crypto or ransomware which are entirely unrelated.

If the general response to this is blaming crypto and ransomware on people not caring enough to be even 1% informed on the topic, faith in humanity will decline.

[The Sceptical Chymist]

People become "butthurt" when they get really old, after realizing that they have remained as losers during their entire life. This has happened to Warren Buffet as well. Every now and then, he suffers from verbal diarrhoea due to his jealousy towards Bitcoin.

No. No, no, no.

I read about this situation and immediately wondered the same thing myself, whether the hackers had asked for bitcoin or some other crypto as the ransom.  Seems like asking for a briefcase full of unmarked bills is very outdated, which makes me think that they probably did indeed ask for bitcoin.  It'd be so much better if they wanted dogecoin, because that deserves a black eye more so than BTC.  Lol. 

Aside from whatever bad reputation crypto gets from this (if any), it's certainly worrisome that stuff as important as a fuel pipeline could be hacked and held for ransom.  The government and all of its agencies better get their shit together and start realizing how vulnerable they really are. 

[sunsilk]

The latest news about that incident is that they're now back at it again and just restarted. It probably had an effect on crypto but didn't do that much.

What's impactful is the new statement of Elon that they're no longer going to accept bitcoin payments for the purchase of their Tesla cars. After his words, there's a sudden drop of around 6% for bitcoin.

[Dave1]

I don't see any effect though, crypto has been in this kind of news way back, so what is the difference now? Hackers have been targeting big companies in the US demand ransom in crypto as well. So this is just another news for us, but for those who has its own agenda against crypto, then they could take advantage of this news and make some noise to push their anti-crypto sentiments.

[Sithara007]

The latest news about that incident is that they're now back at it again and just restarted. It probably had an effect on crypto but didn't do that much.

What's impactful is the new statement of Elon that they're no longer going to accept bitcoin payments for the purchase of their Tesla cars. After his words, there's a sudden drop of around 6% for bitcoin.

As per the official statement released by Elon, Tesla has stopped accepting Bitcoin because of concerns regarding the fossil fuel usage for Bitcoin mining. It had nothing to do with the pipeline hack, as far as I know. Elon is just trying to manipulate the cryptocurrency market according to his own whims and fancies. Now he will come up with his own PoS shitcoin or promote some already existing shitcoin and claim that it is more environmentally friendly when compared to Bitcoin. This guy is a big fraud.

[ElmedoRator]

The latest news about that incident is that they're now back at it again and just restarted. It probably had an effect on crypto but didn't do that much.

What's impactful is the new statement of Elon that they're no longer going to accept bitcoin payments for the purchase of their Tesla cars. After his words, there's a sudden drop of around 6% for bitcoin.

As per the official statement released by Elon, Tesla has stopped accepting Bitcoin because of concerns regarding the fossil fuel usage for Bitcoin mining. It had nothing to do with the pipeline hack, as far as I know. Elon is just trying to manipulate the cryptocurrency market according to his own whims and fancies. Now he will come up with his own PoS shitcoin or promote some already existing shitcoin and claim that it is more environmentally friendly when compared to Bitcoin. This guy is a big fraud.

The day I look forward to has also arrived, I always look forward to news that is different and makes us happy.

But the newcomers are panicking a lot , I'm glad they didn't listen to the advice in the first place.

[Lorence.xD]

I don't see any effect though, crypto has been in this kind of news way back, so what is the difference now? Hackers have been targeting big companies in the US demand ransom in crypto as well. So this is just another news for us, but for those who has its own agenda against crypto, then they could take advantage of this news and make some noise to push their anti-crypto sentiments.

That's what the people of agenda will do it exactly, they will make it look like it's crypto's fault that there are these kinds of attacks when it was the company's that were targeted that were at fault because they had a weak security and I personally don't mind that these companies get finessed because the employees aren't hurt in this ordeal and the people at the top are hurt the most so anything that hurts the 1%, I am alright with that.

[sunsilk]

The latest news about that incident is that they're now back at it again and just restarted. It probably had an effect on crypto but didn't do that much.

What's impactful is the new statement of Elon that they're no longer going to accept bitcoin payments for the purchase of their Tesla cars. After his words, there's a sudden drop of around 6% for bitcoin.

As per the official statement released by Elon, Tesla has stopped accepting Bitcoin because of concerns regarding the fossil fuel usage for Bitcoin mining. It had nothing to do with the pipeline hack, as far as I know. Elon is just trying to manipulate the cryptocurrency market according to his own whims and fancies. Now he will come up with his own PoS shitcoin or promote some already existing shitcoin and claim that it is more environmentally friendly when compared to Bitcoin. This guy is a big fraud.

I'm only giving a comparison of which is impactful than the news about the US pipeline hacking incident.

I think I've clearly said that of which is impactful is not the news about the pipeline hacking but the incident that was recently been made and done by Elon.

[Kakmakr]

The Tesla thing is just a clever marketing scheme from Elon Musk to sell more "environmental friendly" solutions to Crypto miners... and that will blow over. The problem we should focus on, should be the influence these kinds of hacks and ransomware are having on regulators.

I know these criminals do not give a fu$k about the success of this experiment, so we should assist in removing them from our scene. If you are passionate about Crypto currencies and you have the skill set to "identify" these people, then do that. Do not allow a small minority of people like this to destroy the freedom we desire. (Push the regulators and they will push back... show them that the community care about this and that they can Police this themselves and they will support us)

Where are the White hat hackers & Crypto enthusiasts?

[DoublerHunter]

^ This incident has to be subjected to investigation. Janet Yellen might have engineered and set up this one just to pursue her bitter agenda. So, it would be better if people in the Bitcoin community would gather funds or raise funds and finance an investigation regarding this. As if the bill raised by Yellen is approved, half of the wealth we have will soon be gone and we all don’t want that to happen. Probably people are not scared with Yellen, she is just a typical female politician, BTC is being held and protected by bigger people behind the curtains as well. So I don’t think her movement won’t work. Big organizations are starting to come into the market, and that only means oligarchs are starting to utilize it, or else they might be the ones who organized and established it in the first place. We will soon know. This will be proven if Janet failed to pursue the bill.

[DrBeer]

From the information available in the media, the situation is presented as "a financial crime of a group of hackers." But everything looks strange. Having not received a ransom, they blocked the largest fuel supply network in the United States, almost creating a global collapse in the fuel market. But there are a couple of questions:
1. Does anyone remember more examples when a group of hackers, just like that, took and decided to play with strategic objects in the United States?
2. The method of penetration, unexpectedly coincided with the one used for the cyberattack on the United States last year by a cyber group from "one of the most peaceful countries."
Well, and a general question - who do you think is most beneficial to the crisis on the fuel market associated with a lack of fuel? Could this have been if it had not been possible to launch the network very quickly, with a delay of a week or two, would a critical situation have developed in the US market and the demand for petroleum products would have grown sharply?