Ransomware Q2 report highlight drop in ransoms paid to attackers

Second quarter statistics on ransomware showed that while the average payment rose, the median had a marked decline.

In the second quarter of 2022, the average ransom payment was C$228,125, an e increase over the first quarter of 2022. The median ransom payment was C$36,360, a 51 per cent decrease from the previous quarter.

The report released by ransomware remediation firm Covenware shows a sustained decline since the fourth quarter of 2021, which marks a peak in ransomware payments on average of C$332,168 and a median of C$117,116.

According to the report, the most active ransomware groups include BlackCat (16.9 per cent), LockBit (13.1 per cent), Hive (6.3 per cent), Quantum (5.6 per cent), and Conti V2 (5.6 per cent). Phobos, Black Basta, and AvosLocker all occupied the 5th position with 5 per cent market share.

Among the new trends that Coveware is monitoring are the decline in the median size of companies targeted in the second quarter and the creation of smaller ransomware-as-a-service (RaaS) operations that attract subsidiaries from recently dissolved syndicates.

Double extortion continues to be at the heart of data exfiltration, accounting for 86 per cent of reported cases in the second quarter.

The sources for this piece include an article in BleepingComputer.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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