Chainalysis, a blockchain forensics firm, has reported a significant 50% decrease in ransomware payments in 2023. The decline in payments can be attributed to enhanced cyber resilience among organizations and a better understanding of the threats they face. The availability of undisclosed decryptors and major law enforcement interventions have also reduced the need for ransom payments in some instances. While there has been a rise in the number of attacks, fewer victims are choosing to comply with the demands of cybercriminals, reflecting a growing reluctance to fund criminal activities. However, challenges still remain as certain ransomware strains continue to evade detection, resulting in significant financial losses for affected companies and organizations.
Latest
Chainalysis: Ransomware payments down 50% in 2023
