More Ransomware Attacks but Less Ransom Payments in 2024 – What Does It Mean?

The report summarizes 2024 ransomware trends: incidents increased while ransom payments fell 35% to $814M, a change largely attributed to major law enforcement takedowns of groups like BlackCat/ALPHV and LockBit, proliferation of lower-value operators, improved defenses and reporting gaps; it cautions the decline may be temporary as actors diversify into data extortion and new groups emerge.