Ransomware attacks are increasingly targeting U.S. organizations, with a rise from 51% to 65% in reported incidents involving U.S. victims, particularly in the financial services sector. Notable ransomware groups such as AlphV and LockBit are implicated, with AlphV responsible for a high-profile attack on Change Healthcare, demanding a $22 million ransom. A new threat, RansomHub ransomware, has emerged, compromising over 210 victims since its inception, and operates under a Ransomware-as-a-Service model, complicating defense efforts. The NoName ransomware gang is also evolving, utilizing new malware called ScRansom to target small to medium-sized businesses while potentially collaborating with RansomHub. Recovery from ransomware attacks remains a significant challenge, with durations varying widely and costs averaging over $4 million per incident. The repercussions extend beyond financial losses, exposing customer data and leading to vulnerabilities such as identity theft.