Accessibility links

Facebook   X   LinkedIn   Email

Ransomware’s Latest Trend: Fewer Attacks-Bigger Ransoms

By: Jim Stickley and Tina Davis
November 19, 2024

Once again, ransom payments are on the rise and expected to reach record highs this year. What’s behind these record-breaking amounts is a new ransomware trend that’s working well—for cybercriminals, that is.

Research shows the maximum and median amounts of ransom payments are sharply increasing, with median payments now averaging $1.5 million. That’s almost eight times what they were just 18 months ago. On record for the largest payment so far this year is Dark Angels ransomware gang getting a $75 million ransom payment. The good news? Although there’s a 10% increase in attacks posted on data leak sites, where those who refuse to pay a ransom have their stolen data leaked, ransom payments are down more than 27%.

Behind the numbers is a disturbing new attack trend called “big game hunting.” These are high-profile attacks on big business and critical infrastructure that bring big bucks ransom demands and payments. So, while the number of actual ransomware attacks get smaller, the big game hunting payoff is much, much larger. It’s an alarming problem for big game targets when their operations are disrupted, and their highly sensitive data is at risk of public exposure.

Although authorities have broken up some of ransomware’s biggest operators like LockBit and ALPHV/BlackCat, these groups splinter into new operations. Some rebrand themselves, but they also bring new methods and techniques to their attacks. One suggestion is for law enforcement to better follow the money leading directly to these groups. In the meantime, organizations both big and small need to protect themselves from ransomware, including what’s trending now and those trends to come.



Phishing Examples Of The Current Top Ransomware Threats

Your Security

Phishing Examples Of The Current Top Ransomware Threats

Ransomware attacks have become increasingly prevalent and damaging in recent years and they do not discriminate. Every person, industry, or organization is fair game for cybercriminals wanting to make a buck; in most cases, many bucks. Cybercriminals are constantly on the lookout for vulnerabilities they can exploit to gain unauthorized access and deploy ransomware. Here, we highlight some of the most significant vulnerabilities leveraged by ransomware groups, their implications, and the importance of securing these weaknesses. READ FULL STORY
Ransomware on a Roll-What’s New

Scams & Phishing

Ransomware on a Roll-What’s New

The beginning of the year saw the number of ransomware attacks at an expected low. But thanks to threat groups digging in, it gave way to an unusual 44% jump in just one month. In a monthly review, Malwarebytes takes a look at ransomware developments so far and what we might see in the near future. There's no crystal ball telling us what ransomware attacks will look like tomorrow, but we do have a few clues. And spoiler alert! There is also some rare, good news about ransom payments. READ FULL STORY
The Battle Persists: Ransomware Continues Targeting Hospitals

Corporate Security

The Battle Persists: Ransomware Continues Targeting Hospitals

An ongoing challenge for hospitals is keeping safe from ransomware attacks. It's a tall order, and Blackcat ransomware group is flexing its claws and choosing the next victim. In fact, three U.S. government agencies advised our healthcare systems about Blackcat's devastating attacks. It's not the first time these systems have been warned about ransomware, and it won't be the last. Before this alert, an FBI flash alert was declared in April 2022 and an advisory issued in December 2023. READ FULL STORY
It’s Time to Backup and Celebrate World Backup Day!

Your Security

It’s Time to Backup and Celebrate World Backup Day!

It’s getting close! The anticipation is building. It’s a great day on March 31, 2024. It may not be on your calendar, but it should be. That’s because just around the corner is World Backup Day! Yes, it’s a thing. There’s even a website. If you visit that website, you will see some stats that might just blow your mind as much as realizing it’s almost World Backup Day! Whether due to ransomware attacks, hardware failures, human error, or natural disasters, the risk of losing valuable data is ever-present. READ FULL STORY
Scattered Spider’s Web Of Lies, Deception And Ransomware

Your Security

Scattered Spider’s Web Of Lies, Deception And Ransomware

Warnings from the FBI and CISA came in loud and clear recently…Scattered Spider’s cyberattacks are more hazardous and crippling than ever before. Their high-profile, financially motivated attacks rely on social engineering for data theft, extortion, and ransomware attacks. And when both security agencies release a joint advisory warning to us about this threat group, it’s smart to listen. These threat actors made headlines for crippling financial attacks against several large organizations recently and they've increased the stakes playing their games. READ FULL STORY




We use cookies to give you a more relevant browsing experience and improve our website. Using this site means that you agree with our use of cookies policy.