Chainalysis registers decline in ransomware revenue over the past year.
While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has fallen sharply last year, according to Chainalysis. The blockchain forensics firm believes that to a large extent the trend can be attributed to more of the targeted organizations refusing to pay the perpetrators.Over the course of 2022, ransomware actors have managed to extort at least $456.8 million from victims, Chainalysis revealed in apublished Thursday.
“The trend is clear: Ransomware payments are significantly down,” the authors of the study said while emphasizing that this finding doesn’t mean fewer attacks have been carried out. They believe instead that much of the decline is due to a growing number of affected organizations actually refusing to pay the demanded ransoms.Chainalysis also highlights a sizable increase in unique ransomware strains in 2022, continuing the growth of active strains in recent years.
According to Michael Phillips, chief claims officer of cyber insurance firm Resilience, claims filed with the industry show ransomware remains a growing threat but certain factors are disrupting extortion attempts, like the war in Ukraine and the heightened
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