Ransomware attacks resulted in over $1 billion of cryptocurrency payments in 2023 as criminals targeted high-profile institutions and infrastructure.
Criminals made off with a record $1 billion in cryptocurrency ransomware payments in 2023 as high-profile institutions and infrastructure were targeted by sophisticated attacks.
According to the latest excerpt from Chainalysis’ 2024 Crypto Crime Report focused on ransomware, significant supply chain attacks occurred using ubiquitous file transfer software MOVEit that affected household names like the BBC and British Airwaves.
A contributing factor to the resurgence of ransomware in 2023 was an escalation in “frequency, scope, and volume of attacks.” Various actors carried out attacks, from individuals and small criminal groups to large syndicates.
