Could Ransomware Survive Without Cryptocurrency? www.darkreading.com/cyber-ris…

Ransomware has become synonymous with cryptocurrency, but factors such as poor cyber hygiene and organizations' willingness to pay ransoms are what fuel the threat. The number of recorded attacks and victims continues to climb following record-setting years for ransomware activity throughout 2023 and 2024. And the first few months of 2025 are on track to continue the upward trajectory. The pervasive threat has evolved significantly since the first recorded ransomware attack in 1989. Back then, attackers demanded ransom payments via traceable methods, such as standard mail and sending gift cards via SMS text messages. Nowadays, cryptocurrency — specifically Bitcoin — allows ransomware groups to request and receive ransoms in a far more anonymous and easier way. While experts agree that cryptocurrency has helped fuel the ransomware threat to the alarming levels seen today and enables widespread activity, they say ransomware groups would survive just fine without the virtual currency.