Ransomware hackers netted $1.3 billion in the last two years

According to a report published by Chainalysis Inc, hackers launching and spreading ransomware malware are estimated to have netted over $1.3 billion in the past two years, i.e. 2020-2021.

The firm that keeps a track of blockchain transactions said that the profits seen in 2021 were $602 million and $692 million the previous year. Well, there is no surprise that the current year might see an increase by 25% taking the tally to over $809 million.

Researchers who conducted the survey stated that the said figure that reached $1.3 billion in the past two years might differ in an increasing graph. As most of the ransomware payments are not brought to the notice of the law enforcement, SEC filing or to the concern of the media.

Interestingly, the report also included the fact that cyber criminals from Russia and East Europe are targeting companies operating in United States and China n North Korea supporting them.

Coming to the average payment paid to the hackers in 2021, it was recorded as $118,000- an increase from $88,000 in 2020 and $25,000 in the year 2019.

Meaning, a year on year increase has been witnessed in the payments made on an average and that is being observed with the adoption of advanced techniques by criminals.

Note– After the Biden Administration took initiatives to bolster the defense-line of the entire critical infrastructure of United States, Russian President Vladimir Putin also started taking stringent measures to curtail the spread of Ransomware-as-a-service from the country by arresting the crucial members of ransomware groups such as DarkSide, Conti, Evil Corp and such. So, let’s hope that the earnings of the hackers in this year dips significantly, bringing a sigh of relief to the companies and the CIOs and CTOs managing it.


Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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