Why are ransomware gangs making so much money?

In 2023 ransomware actors achieved record earnings—known payments surpassed $1 billion—driven by large-scale campaigns such as Clop’s MOVEit mass exploitation and high-value extortion cases (e.g., Caesars, MGM). The report highlights increasingly aggressive tactics (including threats to patients and leveraging disclosure rules), a rise in targeting to compensate for fewer payouts, and ongoing debate over whether banning ransom payments is a viable policy response.