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In the changing cybersecurity landscape, companies are resisting ransomware payments in 2024. Organizations affected by ransomware are beginning to understand that paying is not the solution. During the first quarter of 2024, the proportion of victims who chose to pay the ransom reached an all-time low of 28%.

 

Ransomware Resistance

Organizations are increasingly prepared to withstand an encryption attack and restore their operations without the need for a decryption key. Furthermore, it has been observed that stolen data is often leaked or traded even after victims have paid the ransom, repeatedly proving that paying does not guarantee security.

 

Changes in the Ransomware Ecosystem

Recent events are transforming the ransomware ecosystem. With the discontinuation (temporarily or permanently) of big players like LockBit and Alphv/Blackcat, and their attempts to cheat their affiliates out of their fair share for a successful attack, many affiliates have begun to look for a safer harbor in the storm. Smaller ransomware-as-a-service (RaaS) groups are trying to lure them into joining their network.

 

Downward Trend in Ransomware Payments

The average ransomware payout continues its downward trend: in the fourth quarter of 2023 it was $568,705, and in the first quarter of 2024 it fell to $381,980.

 

Investment in Cybersecurity: A Shield Against Ransomware in 2024

We emphasize the critical importance of investing in cybersecurity and ongoing employee training. In today’s digital world, cybersecurity is not a luxury, but a necessity. Companies are demonstrating their resilience to these attacks, recovering from them without having to give in to the demands of cybercriminals.

Investing in cybersecurity not only protects companies from immediate threats, but also prepares them for the future. Training employees in safe cybersecurity practices is equally crucial, as human error can often be the gateway for ransomware attacks.

In 2024, companies are demonstrating that they can withstand these attacks and recover without giving in to the demands of cybercriminals. Let’s continue to strengthen our defenses and resist ransomware payments! Together, we can make cybersecurity a priority and protect our digital future.