HomeUncategorizedRansom refusals hit attackers where it hurts: 40% revenue drop in 2022 — Chainalysis By Cointelegraph

Ransom refusals hit attackers where it hurts: 40% revenue drop in 2022 — Chainalysis By Cointelegraph

January 20, 2023

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Ransomware victims have seemingly had enough of the extortion, with ransomware revenues for attackers plummeting 40% to $456.8 million in 2022.

Blockchain intelligence firm Chainalysis shared the data in a Jan. 19 report, noting that the figures don’t necessarily mean the number of attacks is down from the previous year.

Total value extorted by ransomware attackers between 2017 and 2022. Source: Chainalysis.
Destination of funds leaving ransomware wallets between 2018 and 2022. Source: Chainalysis.

Victims refusing to pay

Siegel’s probability chart suggests that ransomware victims have become increasingly unwilling to pay their attackers. Source. Chainalysis.