Ransomware Groups Made Less Money in 2024 www.darkreading.com/cybersecu…

The total volume of ransom payments decreased year-over-year by approximately 35%, due to law enforcement activities and more victims refusing to pay, according to blockchain analytics company Chainalysis.

In 2024, ransomware attackers collected approximately $813.55 million in payments, a significant drop from the $1.25 billion collected in 2023 and $1.07 billion collected in 2021, Chainalysis said in its 2025 Crypto Crime Report.

Improved cyber hygiene and overall resiliency is helping organizations make the decision to not pay, according to Christian Geyer, founder and CEO of Actfore. Better incident response capabilities, digital forensics, and data mining services are helping victims identify the breached data faster.

“Organizations have increasingly implemented comprehensive data backup solutions, so the business can rapidly recover their systems through a wipe and restore process,” Geyer said.