Ransomware, a prevalent form of cybercrime, has witnessed a resurgence in 2023, following a comparatively tranquil 2022. Statistics from Coveware indicate a significant surge in ransomware attacks this year. Concurrently, awareness among potential victims has risen, resulting in fewer organizations acquiescing to ransom demands. According to the same source, the percentage of compromised organizations succumbing to ransom demands has plummeted to a historic low of 34%.
For those organizations that opted to pay the ransom, the cost was substantial. The average ransom payment surpassed $700,000, marking a staggering 126% increase compared to the first quarter of 2023. These findings underscore the growing urgency for robust cybersecurity measures and heightened vigilance in the face of evolving cyber threats.
