Ransomware revenue drops 40% as victims refuse to pay in 2022

On January 19, Chainalysis released a report stating that 2022 was an effective year for fighting cybercrime. Revenue from ransomware attacks fell to $456.8 million in 2021 from $765.6 million.

Chainalysis experts attribute this significant drop of 40% to the fact that more victims of ransomware attacks refuse to pay money when threatened by criminal groups.

gave Reports Only covered leaves are known. Ransomware criminal gangs. Therefore, the amount could be even higher, as many other addresses are yet to be identified. For example, in 2021, Chainalysis identified only $602 in ransomware payments. They kept rediscovering new addresses, and the amount came to $765.6.

Unfortunately, the reduced amount does not translate to a reduction in attacks. Data from Chainalysis shows that the number of unique ransomware operations increased dramatically in 2022. Fortinet’s research also suggests that there were more than 10,000 new active strains in the first months of 2022.

Another trend being observed is the age of ransomware, which is getting shorter. The average age of ransomware was 153 days in 2021. However, in 2022 it will reduce to 70 days. Analysts in China have explained that this behavior can be linked to groups trying to hide their activities as quickly as possible.

Ransomware funds sent to mainstream exchanges.

Ransomware funds going to mainstream exchanges also increased, rising from 39.3% last year to 48.3% in 2022. less From 10.9% to 6.7% in 2022.

Earlier this money was mostly sent to places like dark net markets for money laundering activities. However, in 2022 the use of funds for non-statutory services was reduced. Mixer usage increased from 11.6% to 15.0%.

The same group carries out several attacks.

A continued increase of new random strains would suggest a continued increase of new entrants into crime. This could be far from the truth. Although there are several active strains throughout the year, the number of individuals behind this crime is minimal.

Chainalysis explains that most Ransomware attacks Use a ransom as a service business model. The model stipulates that creators allow other affiliates to use administrator malware in their attacks in exchange for a percentage of the money.

However, experts observed that several affiliates Many stress attacks. So even though more than one strain is active throughout the year, the same contiguous attacks are likely.

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