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Ransomware Payments Dropped 35% In 2024
An anonymous reader quotes a report from CyberScoop: Ransomware payments saw a dramatic 35% drop last year compared to 2023, even as the overall frequency of ransomware attacks increased, according to a new report released by blockchain analysis firm Chainalysis. The considerable decline in extortio...
Chainalysis itself warned in its mid-year report that 2024's activity was on pace to reach new heights, but attacks in the second half of the year tailed off. [...] Additionally, [Chainalysis] says more organizations have become stronger against attacks, with many choosing not to pay a ransom and instead using better cybersecurity practices and backups to recover from these incidents. [...] Chainalysis also says ransomware operators are letting funds sit in wallets, refraining from moving any money out of fear they are being watched by law enforcement.
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