If Ransomware Inc was a company, its 2024 results would be a horror show

Chainalysis reports that on-chain ransomware payments dropped to about $813.6M in 2024 from $1.25B in 2023, even as ransomware incidents increased; experts cite improved recovery from backups, law-enforcement disruptions to groups like ALPHV/BlackCat and LockBit (despite their resurgence), reduced efficacy of crypto mixers (e.g., ChipMixer, Sinbad) due to crackdowns, and stronger government and insurance disincentives to pay, with the ecosystem shifting toward more lone actors targeting smaller organizations with lower demands.