Ransomware payments fell by more than one third in 2024 as a growing number of casualties refused to negotiate with hackers.
In Report released on WednesdayCrypto Forensics firm Chainalysis said that while Ransomware gang filters posted more casualties than in previous years during 2024, fewer casualties gave in to the demands of the hackers. Chainalysis reported a fall of 35% in ransom payments, with ransomware-hackers receiving a total of $ 814 million compared to the $ 1.25 billion record amount.
In further evidence of victims refusing to meet the demands of attackers, Chainalysis said that during the second half of 2024, the sums required by Cyber bands were 53% higher than the actual payments -despite increasing the number of ransomware attacks.
Chainalysis says the surprise decline – the first observed since 2022 – was also caused by an increase in bill, including the disruption of the fertile lockbit ransomware gangand improved international cooperation.
