Ransomeware Cyber Attacks Increased in 2023

Chain Analysis shows that victims of hacking attacks paid out a record $1.1 billion to the bad guys in 2023 as ransom in exchange for a return of those digital assets seized by them. By way of comparison, $567 million was paid out in 2022. 2023 marks a major year for ransomware with record breaking payments and a substantial increase in the scope and complexity of such attacks.