Ransomware Rumble: Payments Plummet 35% as Cybercriminals Fumble in 2024!
Payments to ransomware actors decreased by 35% in 2024, despite a record number of attacks. The decline is due to greater victim resistance, legal pressure, and law enforcement actions. Chainalysis reports show a drop in median payments, while cybercriminals face increased challenges in laundering their ill-gotten gains.
Hot Take:
Looks like ransomware has taken a hit to the wallet and the ego! Despite a record number of breaches, cybercriminals are finding their pockets emptier than a diet soda can at a pizza party. Law enforcement and cybersecurity measures are giving these digital bandits a run for their (decreasing) money. Who knew ransomware would need a financial advisor in 2024?
Key Points:
- Ransomware payments in 2024 fell by 35% compared to 2023, totaling $813.55 million.
- Only 30% of ransomware victims ended up paying any ransom in 2024.
- Despite the decline in payments, 2024 had a record number of ransomware breaches.
- Law enforcement operations and heightened cybersecurity awareness contributed to payment reductions.
- Ransomware actors face challenges in laundering money due to increased regulation and crackdowns.
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