Summary: Ransom payments have decreased significantly by around 35% year-over-year to approximately 3.55 million in 2024, attributed to law enforcement actions and a growing number of victims choosing not to pay. Despite a rise in ransomware incidents, fewer victims are complying with ransom demands, bolstered by improved cyber hygiene and data recovery strategies. Notable disruptions in key ransomware groups have further shaped the evolving threat landscape, leading to a decline in payments and a shift towards attacks on smaller organizations.
Affected: Organizations impacted by ransomware attacks
Keypoints :
- Ransom payments dropped from .25 billion in 2023 to 3.55 million in 2024.
- Victims are increasingly opting not to pay ransoms, aided by improved incident response and data recovery capabilities.
- Significant law enforcement operations have disrupted key ransomware groups, leading to a notable decrease in their activity and ransom payments.
Source: https://www.darkreading.com/cybersecurity-operations/ransomware-groups-made-less-money-in-2024