Crypto Ransom Amounts Skyrocketed 200% in 2019

A report from Crypsis Group revealed that threat actors have significantly escalated their tactical approaches in ransomware attacks.

A study revealed by digital forensics firm, Crypsis Group, shows an actively growing trend in the ransoms demanded by ransomware attackers. Amounts sharply rose 200% from 2018 to 2019.

According to the 2020 Incident Response and Data Breach Report, it’s no surprise that cybercriminals have claimed “exorbitant” crypto ransoms in the past three years. The firm pointed out that the median amount of funds demanded as ransom was $115,123.

Attackers are getting sophisticated

Crypsis Group says attackers are shifting their tactics to enterprise-targeted ransomware. They carefully select victims capable of paying higher sums, with tactics that are “maturing” over time.

Attack tactics by the criminals have also apparently adapted very well to overcome defense strategies adopted by victims.

Popular ransomware’s variants

Crypsis Group states that 2019 saw the rise of ransomware variants, such as Ryuk, Sodinokibi (or “REvil”) and Phobos, noting that these tactics are “highly effective.”

The report reveals that Ryuk ransomware was the most popular variant in 2018. Threat actors rely on a banking trojan, known as TrickBot, to release spam/phishing campaigns against victims.

On May 25, Cointelegraph reported on a report from Verizon which shows that attackers are targeting educational services in greater numbers since the start of 2020.