Ransomware payments reached record $1.1 billion in 2023
Ransomware payments in 2023 soared above $1.1 billion for the first time, shattering previous records and reversing the decline seen in 2022, marking the year as an exceptionally profitable period for ransomware gangs. The previous record-high figure was set in 2021, with ransomware payments amounting to $983 million, surpassing the preceding record of $905 million in 2020 by approximately 10%.
Unfortunately, the resurgence of ransomware in 2023 confirms that 2022 was a statistical anomaly, with that year's activity impacted by geopolitical events like the war between Russia and Ukraine and law enforcement's dismantling of the Hive operation.
According to a new Chainalysis report, the 2023 record can be attributed to escalating attacks against major institutions and critical infrastructure and Clop's massive MOVEit campaign, which impacted thousands of organizations worldwide.
In July 2023, Chainalysis warned that based on the activity and recorded payments up until that time, ransomware payments were on a record-breaking trajectory, and unfortunately, the prediction was confirmed. The most prolific threat groups in terms of ransom amounts they received in 2023, are ALPHV/Blackcat, Clop, Play, LockBit, BlackBasta, Royal, Ransomhouse, and Dark Angels.
Bleeping Computer 02/07/2024