Colonial Pipeline CEO on paying ransom: 'It was the right thing to do'

The CEO of the Colonial Pipeline on Wednesday justified authorizing a ransom payment of $4.4 million to hackers who broke into its systems in early May, saying that he wasn’t sure how much the cyberattack had affected the company or its ability to provide gas to customers again.

Joseph Blount, CEO of Colonial Pipeline, confirmed that the company had paid a ransom during an interview with the Wall Street Journal, saying that he had no choice but to pay the money, given what was at stake in the shutdown of the pipeline, which provides 45% of all gas on the East Coast.