Why it matters: Ransomware is a type of malicious software that cybercriminals use to encrypt data or lock a victim's system, ...

Payments to ransomware actors decreased 35% year-over-year in 2024, totaling $813.55 million, down from $1.25 billion ...

There was a dramatic surge in ransomware attacks in 2023, with a 55% year-over-year increase. The total number of victims reached 5,070. This rise doesn’t tell the whole tale, though.

An analysis by Chainalysis shows that ransomware payments dropped to $813 million in 2024, from $1.25 billion in 2023.

However, relying on ransom payments to regain access to stolen data does not solve the core issue of data theft. Despite growing cybersecurity investments and awareness, recent survey findings ...