U.S. companies paid over $2 billion in ransomware demands between 2022 and 2024, with a significant increase in incidents in 2023. Law enforcement actions against groups like ALPHV/BlackCat and LockBit have temporarily reduced total ransomware payments. #BlackCat #LockBit
Keypoints
- U.S. ransomware payments since 2022 have nearly matched total payments from the previous nine years.
- Ransomware incidents peaked in 2023 at 1,512 cases, with payments reaching approximately $1.1 billion.
- In 2024, ransomware attacks slightly declined, but total payments decreased to about $734 million.
- The most targeted sectors were financial services, manufacturing, and healthcare, with the most common ransomware variants including ALPHV/BlackCat and LockBit.
- Ransomware groups primarily used TOR for communication and Bitcoin as the main payment method, exploiting virtual currency exchanges for money laundering.
Read More: https://thecyberexpress.com/ransomware-payments-fell-after-law-enforcement/