Ransomware Riches: The Explosive Growth and Surprising Decline of Cybercrime Payments
Ransomware attacks have taken a lucrative turn, with $2.1 billion reported between 2022 and 2024. As threat actors refine their methods, 2023 saw payments peak at $1.1 billion. But there’s hope—recent declines in payments suggest cyber defenders are finally seeing some daylight in their battle against ransomware.
Hot Take:
Ransomware is the gift that keeps on taking, and it seems cybercriminals are raking in more Bitcoin than a Silicon Valley startup. The good news? With some concerted effort, we might just be able to turn this cybercrime into cyber-crumbs. But remember, folks, the best way to avoid paying ransom is not getting kidnapped in the first place – keep those digital doors locked and bolted!
Key Points:
- FinCEN report highlights $2.1 billion in ransomware payments from 2022-2024.
- Ransomware attacks have surged, matching the totals from the previous nine years.
- 2023 was a peak year for ransomware payments; 2024 saw a dip.
- Bitcoin remains the preferred currency for ransomware payments, with Monero trailing behind.
- Despite a decline in ransomware payments, vigilance and proactive defense measures are crucial.
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