Ransomware Rages: 2023’s $1.1B Bitcoin Bonanza Busts Records!
Ransomware payments reported to FinCEN topped $4.5 billion by 2024, with 2023 setting a record at $1.1 billion across 1,512 incidents. It’s a classic case of crime paying, but unfortunately, not in free pizzas or Netflix subscriptions. FinCEN’s data shows Bitcoin is the hackers’ currency of choice, overshadowing Monopoly money.
Hot Take:
It seems like ransomware is having its own roaring twenties, with payments skyrocketing faster than a kid’s sugar high after Halloween. Let’s just hope our cybersecurity measures catch up before the next trick-or-treat!
Key Points:
- Ransomware payments totaled over $4.5 billion by 2024, with a record $1.1 billion in 2023.
- 2023 saw a 77% increase in ransomware incidents compared to 2022.
- Median payments hovered around $175,000 in 2023, mostly under $250,000.
- Akira led in incidents, while ALPHV/BlackCat took the prize for the highest total transaction value.
- Bitcoin remains the currency of choice for 97% of ransomware payments.
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