Ransomware Victims Taking a Stand


According to a recent article from Chainalysis, a blockchain analysis form that has worked with a number of laws enforcement and government agencies, ransomware attackers extorted at least $456.8 million from victims in 2022, down from $765.6 million the year before.  No, this doesn’t mean there has been less ransomware attacks. It means more ransomware victims are refusing to pay the demanded ransom.

Despite the drop in revenue, the number of unique ransomware strains in operation dramatically increased in 2022. Besides victims making the decision to not pay the ransom, there have been more awareness around security and response planning in preparation for an attack. As well as more action taken by law enforcement to arrest and resolve ransom situations.

Whether or not a victim should pay a ransom when they are the victim of a cyberattack is still up for debate, and honestly, probably will always be. There is risk involved whether you pay the ransom or not.  There is no guarantee your files and network will be returned to you after paying a ransomware.  There is no guarantee if you do not pay the ransom, you can find a way to restore your ransomed belongings.

The best action you can take to protect your business is to ensure your security solutions stack is up-to-date and offers your business the best protection possible.  Security and response planning are key to proper cybersecurity. Not sure if you have the appropriate solutions in place? Let 2W Tech help. Our team of expert IT Consultants can work with your business to evaluate your security solutions stack and ensure you have the best protection in place. Give us a call today to learn more!

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