Ransomware payments are getting bigger — with victims paying an average of $118,000 in 2021 🚨
The Conti group — which is believed to be based in Russia — was the ransomware strain that generated the most revenue last year.
It uses a ransomware-as-a-service model that "allows affiliates to launch attacks using its program in exchange for a fee." DarkSide came second, and this group regularly hit the headlines in 2021 — not least for its attack on the U.S. Colonial Pipeline, which sparked fuel shortages."The Colonial story serves as an important reminder of one reason ransomware attacks are so dangerous: They frequently target critical infrastructure we need to keep the country running — not just energy providers, but food providers, schools, hospitals and financial services companies as well.
Although all of these facts and figures seem daunting at first, Chainalysis says money laundering trends "show how small the ransomware ecosystem really is" — not least becauseof funds sent from criminal addresses since 2020 have ended up at one of six businesses… with three large, international exchanges among them:
"By cracking down on the small number of services that facilitate this money laundering activity, law enforcement can significantly reduce attackers' options for cashing out, reducing the financial incentive to carry out ransomware attacks and hampering ransomware organizations' ability to operate."
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