Ransomware revenue plunged 40% last year as more victims refuse to pay, study finds

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A new report from blockchain data platform Chainalysis found ransomware payouts fell a whopping 40.3% last year, suggesting more victims are simply refusing to pay attackers.

Cyderes CEO and"Shark Tank" star Robert Herjavec says his company's threat researchers identified a brand-new kind of ransomware extortion.At least that's the takeaway from a report released Thursday from Chainalysis, which found that the revenueextorted from victims dropped by a whopping 40.3% last year despite evidence that the number of attack attempts surged.

The amount that ransomware attackers extorted from victims in 2022 was at least $456 million, a marked decline from the $765 million such threat criminals raked in for 2021. Grauer says the platform's team also discovered increased data extortion events, where data is exfiltrated from a victim's system but is not encrypted. The strategy, she explained, is likely an attempt by threat actors to evade the "ransomware" label, which could delay or hinder a victim's ability or willingness to pay.

 

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peterschweizer Ransomware hackers are centered in Ukraine. So tell Ukraine it stops permanenly or no more help. For every dollar ever stolen, we subtract that much aid. Fair is fair.

That's all it took? Refuse to pay 🤔

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