Ransomware Payments Reach Record $1 Billion in 2023

A significant increase in ransomware attacks, particularly by Russia-based groups, has led to a historic high in extorted payments.

Ransomware hackers extorted a record $1 billion in 2023, marking a significant increase from previous years.
The MOVEit vulnerability, exploited by the CL0P Ransomware Gang, was among the largest attacks, affecting major institutions like Sony and the BBC.
Russia-based groups have been blamed for the resurgence in attacks, shifting focus from politically motivated actions in Ukraine to financial extortion.
The use of zero-day exploits has contributed to the rise in ransomware revenues, with high-value targets increasingly becoming the focus.
Chainalysis reports a worrying trend of increasing ransomware activity, with payments expected to rise further.