U.S. officials recover $2.3 million in crypto used to pay ransom in Colonial Pipeline hack

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  • CNBC Television published this video item, entitled “U.S. officials recover $2.3 million in crypto used to pay ransom in Colonial Pipeline hack” – below is their description.

    Bitcoin’s price slipped again Tuesday. The reason for the move was unclear, however it may be related to concerns over security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline. CNBC’s Becky Quick and Andrew Ross Sorkin discuss.

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    In This Story: Cryptocurrency

    A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

    Bitcoin is the first decentralized cryptocurrency. Since the release of bitcoin, other cryptocurrencies have been created.

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