Ransomware payments dropped 35% in 2024

Chainalysis reports a 35% year-over-year decline in ransomware extortion payments in 2024 (down to $812.55M from $1.25B), driven by law enforcement disruption of major groups (LockBit, ALPHV/BlackCat), a rise in smaller actors targeting SMEs with lower ransoms, and shifts in monetization tactics (reduced mixer use, increased use of cross-chain bridges and centralized exchanges), while operators increasingly hold funds in wallets rather than cashing out.