This dreaded scam generated $1.1 billion in 2023

Among the many types of cyberattacks, we find phishing, malware, or ransomware, which are among the best known to the general public. If these methods are very popular with pirates, it is not for nothing. They are among the most profitable. While they had decreased significantly in 2022, new figures are sounding the alarm regarding a type of attack. These are theransomware, or ransomware,which would have allowed hackers to generate at least1.1 billion dollars in 2023, compared to 567 million in 2022.

Ransomware is a type of malware that blocks access to a victim's device until a ransom is paid.

Why this increase?

With ransomware attacks considered the most profitable and popular in history, their decline in 2022 has brought hope for the security of internet users around the world. However, this decline can be attributed to several factors.

One of the reasons for the decline could be the Russian-Ukrainian conflict, according toChainalysis, a blockchain analysis company:

This conflict has not only disrupted the operations of some cyber actors, but also shifted their focus from financial gain to politically motivated cyberattacks aimed at espionage and destruction.

According to9To5Mac:

Many ransomware operators are based in Eastern Europe; both in Russia and Ukraine. Between conscription and fleeing military war zones, threat actors' priorities have likely shifted from being full-time criminal operators.

Chainalysishas noticed an increase in this type of attacks in 2023, whether in terms of volume, frequency, or scope. The intelligence enterpriseRecorded Futurealso reported the existence of 538 new ransomware variants during the same year. Targets include all types of victims, ranging from individuals, hospital systems, schools, and of course businesses.

Is the war in Ukraine really the cause?

Cisco, which has been operating in the world of networks and security since 1984, offers another perspective. Following a study conducted on cyberattacks in 2022, they noticed big changes in the ransomware industry. With in particular the arrival of new players implementing innovative methods to attack their targets. We therefore imagine that this work will have borne fruit in 2023, given the latest figures displayed.