The Colonial Pipeline was forced to shut down its entire automated pipeline system after the ransomware attack this Sunday. In this attack, hackers took Reuters reports and more than 100 gigabytes of data. Currently, supply chain professionals are on high alert because of the Colonial Pipeline Company shutdown.

Colonial Pipeline shutdown impacts about half of the fuel supply to the eastern U.S. There might not be diesel available for the trucks that haul containers for the ports or for the airplanes carrying COVID vaccines.

Ransomware usually happens due to human error and is mostly delivered through email. Hence, it is important to stop getting unknown email and your organization needs security measures to tackle these emails. 

But why did this attack happen and how the Colonial Pipeline could have saved themselves from a Ransomware attack? 

The supply chain professionals are on high alert because of the Colonial Pipeline shutdown.

They are working to avoid fuel shortages after a cyberattack. Experts also call the company “the jugular of infrastructure” that transports almost half of the East Coast’s fuel supply. Also, the breach is happening after two major attacks on U.S. computer networks.

Having strong security measures could have stopped ransomware from arriving on endpoint devices of Colonial Pipeline.

Most Ransomware attacks happen through phishing. Having secure email gateways in place can prevent phishing attacks. However, there are technologies, which use AI and machine learning algorithms to detect phishing attacks and warn before getting a suspicious email. 

This could have helped the company to avoid the attack.

How It’s Going to Impact People?

Panic Buying

After the attack, the White House managed to get the 8,500-km pipeline back online without delay, the shutdown can have a serious impact on fuel prices both internationally as well as locally, given the size of the pipeline that carries 2.5M+ barrels of oil every single day.

This shutdown can impact panic buying, especially amongst the local consumers. As a result, there might be a rise in the price in the southeastern United States.

Also, the company gave no sign of when they are going to be back and work fully operational.

Petroleum Imports

The shutdown of the Colonial Pipeline could also force the US to build petroleum imports from outside the nation. 

It would be more pricey than domestic production and lead to higher oil prices in international markets as well. Colonial Pipeline was also responsible for giving jet fuel to major airports across the US. The delay could result in air traffic disruptions. 

The supply chain professionals are on high alert because of the Colonial Pipeline shutdown.

They are working to avoid fuel shortages after a cyberattack. Experts also call the company “the jugular of infrastructure” that transports almost half of the East Coast’s fuel supply. Also, the breach is happening after two major attacks on U.S. computer networks.

Having strong security measures could have stopped ransomware from arriving on endpoint devices of Colonial Pipeline.

Most Ransomware attacks happen through phishing. Having secure email gateways in place can prevent phishing attacks. However, there are technologies, which use AI and machine learning algorithms to detect phishing attacks and warn before getting a suspicious email. 

This could have helped the company to avoid the attack.

How ESOF could Help

It is good to focus and proactively have a good data security plan in place beforehand, rather than waiting for a cyber attack to happen and losing all the crucial data. 

TAC Security’s ESOF VMP combines the widest view of vulnerability and risk data across the enterprise to create insightful cyber risk scores. The power of artificial intelligence and user-friendly analytics helps you measure, prioritize, and mitigate vulnerabilities across your entire IT stack.

Are you prepared for such attacks in the future?

Know more about the Cyber Security’s future tool – ESOF