The average size of ransomware payments hit an all-time-high in 2021 as increasingly sophisticated ransomware gangs adopted a “big game hunting” strategy, according to new data from chainalysis. cheyenneligon reports
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Chainalysis’ data shows the average ransomware payment size last year reached $118,000 in crypto, up from $88,000 in 2020, according to a report published Thursday. In 2019, the average ransomware payment was only $25,000. Kim Grauer, Chainalysis’ head of research, attributes this jump to the growing sophistication of ransomware groups.
As ransomware gangs continue to profit and gain experience, they are learning how to adapt to avoid detection and go after. Grauer told CoinDesk that data shows many ransomware gangs are reinvesting a larger percentage of stolen funds back into their operations. In 2021,16% of all funds sent from wallets associated with ransomware operators were spent on tools and services, like penetration testing or more secure web hosting, to make their attacks more effective.
The jump, up from 4% in 2020, is largely driven by the rise of Ransomware-as-a-Service , which enables ransomware gangs to purchase already-developed strains of ransomware, like Conti or DarkSide, from ransomware creators, usually in exchange for a portion of the proceeds.
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