Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Fewer Firms Pay Ransom Amid Rising Demands

April 22, 2024
Reading Time: 3 mins read
in News
Fewer Firms Pay Ransom Amid Rising Demands

In the first quarter of 2024, ransomware attacks saw a significant development as only 28% of affected companies chose to pay the ransom, reaching a record low. This decrease, noted by cybersecurity firm Coveware, continues a trend of diminishing payments that began in early 2019. Despite this decline in the payment rate, the impact of ransomware attacks remains substantial, with total payments to ransomware actors reportedly reaching $1.1 billion last year. The trend suggests that while fewer companies are willing to meet ransom demands, those that do are paying higher amounts due to increased demands by ransomware gangs.

The drop in ransom payments is attributed to several factors including enhanced cybersecurity measures by organizations, increased legal pressures against paying ransoms, and a growing distrust in ransomware operators who frequently fail to uphold promises not to publish or resell stolen data. Additionally, law enforcement efforts, such as the FBI’s disruption of the LockBit ransomware operation, have introduced instability and mistrust within ransomware circles, leading to disputes and the collapse of some ransomware groups.

The first quarter of 2024 also saw a shift in the ransom payment landscape. According to Coveware, there was a 32% quarter-over-quarter drop in the average ransom payment, which now stands at $381,980, alongside a 25% increase in the median ransom payment, now at $250,000. This indicates a decrease in high-figure ransom demands and an increase in more moderate demands, suggesting a strategic adjustment by ransomware groups possibly in response to the increasing reluctance to pay.

Ransomware remains a critical threat with Coveware reporting that common initial infiltration methods include remote access and exploitation of vulnerabilities, with specific CVEs mentioned as widely exploited in the recent quarter. Despite some affiliates moving away from ransomware-as-a-service (RaaS) models to operate independently or even exit cybercrime, new threats continue to emerge. Akira, for instance, has become the most active ransomware, responsible for breaches in at least 250 organizations and amassing $42 million in ransom payments, underscoring the evolving and persistent nature of ransomware threats.

Reference:
  • Record Low Ransom Payments Despite Rising Extortion Demands
Tags: April 2024CovewareCyber NewsCyber News 2024Cyber threatsCybersecurityFBIRansomware Attacks
ADVERTISEMENT

Related Posts

AT&T Agrees to $177M Breach Settlement

AT&T Agrees to $177M Breach Settlement

July 8, 2025
AT&T Agrees to $177M Breach Settlement

Alleged Hafnium Hacker Arrested in Italy

July 8, 2025
AT&T Agrees to $177M Breach Settlement

Parrot OS 6.4 Adds New Hacking Tools

July 8, 2025
Insider Arrested in Brazil PIX System Hack

Insider Arrested in Brazil PIX System Hack

July 7, 2025
Insider Arrested in Brazil PIX System Hack

EU Plans Quantum Secure Network by 2030

July 7, 2025
Insider Arrested in Brazil PIX System Hack

Prime Day Scams Use 1000 Fake Amazon Sites

July 7, 2025

Latest Alerts

New Ransomware BERT Targets ESXi Systems

NordDragonScan Malware Steals Windows Data

AMOS Mac Stealer Adds Persistent Backdoor

APT36 Targets Indian Defense Linux Systems

hpingbot Botnet Uses Pastebin C2 Channel

Hackers Abuse Driver Signing For Malware

Subscribe to our newsletter

    Latest Incidents

    French Chip Firm Semco Hacked During IPO

    Louis Vuitton Korea Hit By Cyberattack

    Virginia School District Hit By Cyberattack

    Ransomware Attack Causes Outage at Ingram

    Call of Duty Players Hacked on Game Pass

    RansomHub Claims Theft of Coppell City Data

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial