As Businesses Improve Their Cybersecurity, Ransomware Payments And Attacks Plummet In 2022

Ransomware payments were down 40% in 2022. According to Chainalysis, a blockchain data platform, ransomware payments declined from an all-time high of $766 million in 2021 to $457 million in 2022.

Similarly, Delina, a Privileged Access Management provider, stated in their 2022 State of Ransomware Report that ransomware attacks in 2022 were down 61% from 2021.

But while the numbers are encouraging, this is no time to lower your business' defenses or put off having a robust cyber protection plan.

Why the reduction in ransomware payments?

The main reason for the reduction in payments is that more and more businesses are refusing to become victims of extortion. Certainly, the years of businesses increasing their cyber hygiene and defenses make this decision easier than in years past. As business strategies involve using ever more sophisticated backups and recovery tools to thwart the effects of ransomware, well-prepared companies can recover much more quickly