Ransomware payments hit an all-time high of $1.1 billion in 2023, following a steep drop in total payouts in 2022. Some factors that may have contributed to the decline in 2022 were the Ukraine conflict, fewer victims paying ransoms and cyber group takedowns by legal authorities.
In 2023, however, ransomware payouts came roaring back to set a new all-time record. During 2023, nefarious actors targeted high-profile institutions and critical infrastructure, including hospitals, schools and government agencies.
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