Jakarta, IndonesiaSentinel — In the first half of 2024, ransomware victims have collectively paid cybercriminals a staggering $450 million, or approximately IDR 703 billion. If this trend continues, the year could set a new record for ransomware payments, surpassing the $1.1 billion mark set in 2023.
According to a report from Chainalysis, cited by Bleeping Computer on Friday August 23, 2024, despite increased law enforcement efforts, ransom payments have surged. The increase is attributed to ransomware groups increasingly targeting large organizations capable of paying substantial ransoms. A notable example is a Fortune 50 company that paid $75 million to the Dark Angels group.
The median ransom payment has also seen a significant jump, rising from around $199,000 in early 2023 to $1.5 million by June 2024. This shift indicates that ransomware operators are focusing on larger corporations with higher ransom potential.
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While the total number of ransomware attacks has increased by 10% compared to last year, the number of organizations opting to pay ransoms has decreased by 27%. This suggests that more victims are choosing not to give in to extortion demands.
Additionally, the Chainalysis report highlights that the amount of cryptocurrency stolen has doubled compared to last year, reaching $1.58 billion by July 2024. However, overall illegal activity on the blockchain has decreased by 20%, indicating that legitimate use of cryptocurrency is growing faster than its illicit use.
(Agung)
