Ransomware Gangs Face Cash Crunch as Payouts Plummet to Record Lows
Ransomware payments are hitting an all-time low, dropping to just 23% of breached companies. Coveware reports that cyber attackers are suffocating from this decline in payments, while companies are breathing easier with stronger defenses. Meanwhile, attackers shift tactics, targeting medium-sized firms and favoring data theft over encryption.
Hot Take:
Breaking news: Ransomware attackers are getting the cold shoulder from their victims, and it seems like the bad guys are finally running out of luck (and money). With only 23% of companies giving in to cybercriminals’ demands, it looks like businesses are finally taking a page from The Art of War and hitting hackers where it hurts — their wallets! It’s a digital David vs. Goliath, and for once, David’s winning!
Key Points:
- Ransomware payment rates have hit an all-time low of 23%.
- Organizations are bolstering defenses, reducing the need to pay ransoms.
- Data theft and public leak threats are now the main focus of attacks.
- Average ransomware payments have dropped significantly.
- Cybercriminals are shifting target focus to medium-sized firms.