CEO defends Colonial Pipeline’s ransomware response during Senate hearing

The pipeline company learned of the cyberattack early May 7, after hackers locked up much of its proprietary data and offered to decrypt it in exchange for a ransom. Without knowing the extent of the attack and seeking to prevent attackers from advancing any further into its systems, the company opted to shut down its pipeline network. That decision, which executives maintain was correct based on what they knew at the time, set off panic buying and gasoline shortages from Texas to New Jersey. It took about a week for fuel availability to return to normal.