Average ransomware payment demands soars as criminals grow more confident

New research indicates a significant increase in ransomware demands, with criminal groups now requesting over $5 million on average per attack. Comparitech's report highlights a surge in confidence among these groups regarding their capabilities, the value of stolen data, and the disruptive potential of their encryption methods. The analysis of 56 ransom demands made in the first half of 2024 revealed the largest demand was $100 million from India's Regional Cancer Center. In total, there were 421 confirmed ransomware attacks in the same period, resulting in the theft of over 35 million data records. Private sector businesses were the primary targets, followed by government and healthcare sectors. LockBit emerged as the most active ransomware operator, despite facing disruption from law enforcement earlier in the year. The data also suggests a decrease in the number of attacks compared to the previous year, although the actual number may be higher due to unconfirmed incidents.