Ransomware Payments Decline in 2024: A Deep Dive into Hacking Trends
In 2024, hacking incidents have showcased an alarming trend: ransomware payments have dropped by 35%. Notably, despite several high-profile attacks on entities like Change Healthcare and Snowflake, the total amount paid by victims fell to $814 million from $1.25 billion the previous year. This decline marks one of the most significant shifts ever observed in the ransomware industry.
According to a report by the cryptocurrency tracing firm Chainalysis, payments in the latter half of 2024 fell to just $321 million, underscoring a stark change in victim responses to extortion tactics. As attacks become more sophisticated, the resilience of potential victims is crucial.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.