In 2024, ransomware victims paid $814 million in extortion payments, a significant 35% drop from $1.25 billion in 2023. The second half of 2024 saw the most drastic decline, with hackers extracting only $321 million compared to $492 million in the first half. This reduction may be attributed to increased law enforcement actions against cybercriminals, which have started to slow down ransomware operations. Experts highlight the shift in payment trends as a positive sign amidst ongoing cybersecurity challenges.
"The drastic reversal of the trends we were seeing in the first half of the year to the second was quite surprising," says Jackie Burns Koven.
"Don't get me wrong: For everyone who's a defender or an incident responder, it's been a year, but it is noteworthy that for the ransomware payments have dropped significantly."
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