Ransomware payments in 2023 surpass $1b

07/02/2024 | Chainanalysis

According to a report by Chainalysis, Ransomware actors collected $1.1 billion in extortion money from their victims in 2023. The figure is a record high and is likely to be a conservative estimate of the actual financial impact of ransomware last year. The report also revealed that big-game hunting from groups like Clop has become the dominant strategy, with more and more payments of $1m or more showing up. Ransomware-as-a-service (RaaS) continues to have an outsized impact in drawing in more affiliates who target smaller victims with lower ransoms.

Meanwhile, a separate Data Breach Outlook report from Kroll has revealed that the finance sector has overtaken healthcare as the most breached industry sector. 

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Ransomware, cyberattack, hacking

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