The Download
An analysis in an annual report from Chainanalysis sheds new light on the surging profitability of ransomware campaigns. The report shows 2o24 will be the highest grossing year for ransomware yet with the median payment skyrocketing from just under $200,000 in 2023 to $1.5M by June 2024. A Fortune 50 company made a record ransom payment of $75M to the Dark Angels ransomware group. What you need to know:
Record-High Revenues: Ransomware revenue has reached unprecedented levels in 2024, nearly doubling compared to previous years, reflecting a massive uptick in successful attacks.
Concentration of Power: A small number of ransomware strains account for the majority of the attacks, with the top five strains generating over 80% of the total ransomware revenue.
Shift in Tactics: Attackers are increasingly targeting smaller organizations, exploiting their limited security resources, leading to a significant rise in the average ransom payment size.
What You Can Do
The first thing you should do is to minimize the attack surface adversaries can exploit. ThreatMate will quantify your attack surfaces, build mission plans to remediate exposures, then show you your progress in making your networks more secure.
In addition to managing your attack surfaces, you should have robust back-ups, deploy advanced endpoint detection & response (EDR) and conduct cybersecurity awareness training for employees.
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