Ransomware Rumble: Payouts Plunge 35% Thanks to Cyber Sleuths!
Ransomware payments in 2024 hit $813.55 million, marking a 35% drop from 2023. Despite a record $75 million payout to the Dark Angels, law enforcement action against groups like LockBit led to fewer victims paying ransoms. The ransomware ecosystem now teems with newcomers targeting smaller markets with modest demands, says Chainalysis.
Hot Take:
Looks like the ransomware godfathers are losing their touch! With a 35% drop in payments, it’s clear the cybercriminals might need to rethink their business strategy. Maybe it’s time for a “Ransomware for Dummies” guide?
Key Points:
- Total ransomware payments in 2024 were $813.55 million, down from $1.25 billion in 2023.
- A record-breaking $75 million payment was made to the Dark Angels gang in early 2024.
- Payments declined by 79% in the second half of 2024, thanks to law enforcement crackdowns.
- More than 50 new ransomware leak sites appeared, but fewer victims paid the ransom.
- About 30% of victims still pay ransoms, but many are learning to recover independently.
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