Summary: In 2024, payments to ransomware actors saw a significant decline of 35%, totaling 3.55 million compared to .25 billion in 2023, alongside an increase in ransomware breaches. Victims are increasingly resistant to paying ransoms, with only 30% engaging in negotiations completing payments, influenced by improved cybersecurity practices and law enforcement crackdowns. This shift has complicated money laundering for cybercriminals, who are now employing different tactics to evade tracking.
Affected: Ransomware actors and their victims
Keypoints :
- Payments to ransomware actors fell from .25 billion in 2023 to 3.55 million in 2024.
- Only about 30% of those who negotiable with ransomware actors made any payments.
- New cybersecurity awareness and law enforcement operations have significantly hindered successful ransomware extortion efforts.
- Mixing services are being replaced by cross-chain bridges for laundering proceeds.
- 39% of ransomware proceeds were laundered through centralized exchanges in 2024.