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Cyber bandits feel less and less like Slick Oceans 11 More and more like the crew and finally the ill-fated Robert De Niro heat.
why? That’s because a growing number of potential victims are escaping the ransomware traps that have rocked the corporate world in recent years, according to new research from Chainalysis.
cybercrime and punishment
Life was good for cybercriminals in 2019, 2020 and 2021. Businesses large and small are increasingly online. Especially as the pandemic hit the world and reshaped office practices. In other words, they were storing and sharing tons of useful data and highly sensitive information, essentially leaving the electronic front door wide open. Cybersecurity and cyber insurance companies, meanwhile, were moving out of the “niche” stage of the business life cycle. The burgeoning Wild Wild West cryptocurrency provided the perfect mechanism to carry out mass crimes.
But the world quickly caught up with these unique 21st century villains. Governments around the world have discouraged companies from paying ransoms, and U.S. authorities have imposed tough sanctions on cryptocurrency companies alleged to facilitate illegal activities. A global criminal investigation has tracked two major repeat offenders, his REvil and Darkside hacker gang suspects, and insurance companies are getting much tougher when it comes to claim coverage.All of this is hitting once lucrative cybercrime hard.:
- Ransom payments almost always completed using Bitcoin will grow from about $766 million in 2021 to about $457 million in 2022, according to forensic blockchain research released Thursday by Chainalysis. decreased, about 40% less.
- “We attribute much of the decline to victim organizations increasingly refusing to pay ransomware attackers,” the report says. Data from ransomware security firm Coveware, reviewed by Chainalysis, shows that he will make just 41% of victims demand a ransom in 2022, down from 76% in 2019.
Bits by Bitcoin: Nevertheless, the number of attacks continues to grow. According to Fortinet research cited by Chainalysis, the number of ransomware in circulation will exceed 10,000 in the first half of 2022. Hackers are also increasingly ditching big game targets such as large corporations, government networks, hospitals and schools in favor of the more vulnerable small businesses.Remember: his 2FA in the IT department. If orders fail, there are always simple negotiating tricks.
