Ransomware payments hit a record high in 2023 – Week in security with Tony Anscombe

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Video, Ransomware

Called a “watershed year for ransomware”, 2023 marked a reversal from the decline in ransomware payments observed in the previous year

09 Feb 2024

Ransomware payments in 2023 reached a record-breaking $1.1 billion in 2023, according to an analysis by Chainalysis, a blockchain research firm. Calling 2023 a “watershed year for ransomware”, Chainalysis also said that last year marked a reversal from the decline observed in 2022, when the payments were “only” half the amount last year. The underlying trend – that ransomware actors were more active last year than the year before – was also observed by ESET experts in the H2 2023 edition of ESET’s Threat Report.

What else is there to know about this trend, what are its wider implications, and could cyber-insurance partially explain these developments? Find out in the video.