Ransomware Woes: Businesses Shut Down, Pay Up, and Still Face Data Drama in 2024
In 2024, 58% of organizations hit by ransomware shut down operations to recover, up from 45% in 2021. Despite faster recovery times, ransomware attacks heavily impacted victims’ revenue and reputations. Surprisingly, 51% of victims paid a ransom, yet many still faced data leaks and further threats. Ransomware is clearly the unwanted gift that keeps on giving.
Hot Take:
Just when you thought your 2024 couldn’t get any worse, ransomware decided to swipe right on your company, leaving you with a crash course in crisis management and a bill that makes the national debt look like a tip at your favorite diner. Buckle up, businesses, because ransomware is here to stay, and it’s bringing friends.
Key Points:
- 58% of ransomware-hit organizations in 2024 shut down operations, a rise from 45% in 2021.
- Ransomware attacks have increasingly dire impacts on revenue and reputation.
- 51% of victims paid the ransom, yet many still suffered data leaks and additional demands.
- Phishing remains the top method for delivering ransomware, with a slight decline from 2021.
- Reputation damage is now the biggest financial cost of ransomware attacks.
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