Ransomware payouts hit record high in 2023 – Security Week with Tony Anscombe

Video, Ransomware

Dubbed the “watershed year for ransomware”, 2023 marks a change from the decline in ransomware payments observed last year

Ransomware payments in 2023 reached a record-breaking $1.1 billion in 2023, according to a analysis by Chainalysis, a blockchain research firm. Calling 2023 a “watershed year for ransomware”, Chainalysis also said that last year marked a change from the decline observed in 2022, when payments were “only” half of last year’s amount . 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 more needs to be known about this trend, what are its wider implications, and can cyber-insurance explain part of these developments? Find out in the video.

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