Studies from two security firms suggest that ransomware victims are increasingly refusing to pay the attackers’ demands.
According to Chainalysis, ransomware payments fell from $766 million in 2021 to $457 in 2022.
Coveware reports that 76 percent of ransomware victims paid the ransom demands in 2019, while that figure fell to 41 percent in 2022.
- First, a caveat that there is *no* reliable data on ransomware payments, as even Chainalysis notes. That said, essential security hygiene works against the majority of attacks and ransomware is not different. If you’ve been unable to get backing to make needed changes, you can certainly take advantage these headlines to show management that your competition has been getting more secure.
- Between dropping crypto currency prices, and victims refusing to pay, the researcher in me can’t wait for what attackers come up with next to monetize their efforts.
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