Ransomware Payments Fall 35% Amid Global Crackdown

In 2024, ransomware payments decreased by 35% to $813 million, down from $1.25 billion in 2023, according to Chainalysis. This decline is attributed to intensified law enforcement actions, international cooperation, and increased victim resistance to paying ransoms. Payments fell sharply in the year's second half, marking the most significant drop since 2021, despite an increase in the number of attacks. Major disruptions, such as the takedown of prominent groups like LockBit and the exit scam of ALPHV/BlackCat, contributed to a fragmented ransomware landscape. Victims are increasingly distrustful of attackers' promises to delete stolen data, discouraging ransom payments. Additionally, sanctions against ransomware groups have made it riskier for victims to comply with ransom demands.