Chainalysis records 35% decrease in ransom payments in 2024

While the first half of 2024 was on pace to surpass 2023's record-setting numbers, Chainalysis found that the volume of ransom payments dropped in the second half of the year.

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• Arielle Waldman, News Writer

Despite a highly active year for ransomware in 2024, Chainalysis recorded a 35% decrease in ransom payments compared with the previous year.

Chainalysis detailed the 2024 ransomware landscape in a blog post published Wednesday that cited shifts in threat actors' tactics and the emergence of new ransomware strains. While the report noted that ransomware gang leak sites posted more victims in 2024 than any previous year, the blockchain analytics company found fewer victims gave into ransom demand pressures.

The blockchain analytics company attributed the decrease in ransom payments to several factors, including increased law enforcement actions that led to successful takedowns and more victim organizations refusing to pay. The ...