How An Oil Pipeline Hack Sent Bitcoin Prices Tumbling

Bitcoin slid more than 10% on Tuesday as news of an FBI seizure of Bitcoin funds circulated on social media, exposing a potential security breach in the world’s most “secure” form of payment. Bitcoin slid to $31,662 on Tuesday morning after the U.S. Department of Justice said the FBI had seized $2.3 million in Bitcoin from the ransomware attackers that had taken control of a computer network at Colonial Pipeline—the largest oil and gas pipeline in the United States. Colonial Pipeline had paid the ransomware attackers known…