Decline in Ransomware Payments Despite Increase in Attacks in 2024

Despite the havoc wreaked by ransomware gangs in 2024, new research reveals a significant drop in the amounts victims paid these cybercriminals. While the number of ransomware incidents increased, the total payments to hackers decreased by 35% compared to the previous year, marking the largest decline in payments ever recorded. Law enforcement actions, global awareness, and enhanced defenses are credited for the decrease in ransomware payments during the second half of 2024. However, experts caution that the decline in payments does not guarantee a reduction in ransomware attacks in the future, emphasizing the need for continued investment in ransomware defense strategies.