Ransomware Rumble: How 2024 Saw a Surprising Drop in Digital Ransoms
Ransomware payments fell significantly in 2024, despite high-profile attacks. Law enforcement takedowns and heightened awareness played a role. Chainalysis reported a 35% drop in payments, pointing to diminished skills among newer gangs. But don’t break out the party hats yet—ransomware’s still causing chaos, just with less financial flair.
Hot Take:
Ransomware has taken a nosedive in 2024, much like my New Year’s resolution to eat less pizza. While hackers are still causing chaos, the drop in their extortion funds suggests they might need to consider a career change. Perhaps baking cookies instead of crashing computers?
Key Points:
- Ransomware payments fell by 35% in 2024, totaling $814 million.
- Significant law enforcement actions against groups like BlackCat and Lockbit contributed to the decline.
- Newer ransomware groups lack the skills of their predecessors, leading to smaller ransom payouts.
- Heightened awareness and improved defenses have also played a role in the drop.
- Ransomware incidents increased in number, but payments decreased significantly.
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