Ransomware Payments Explode Amid Quadruple Extortion Threatpost

Ransomware Payments Explode Amid Quadruple Extortion Threatpost The average ransomware payment spiked 82 percent year over year: it’s now over half a million dollars, according to the first half 2021 update report put out by palo alto networks’ unit 42. as. Brenntag, a chemical distributor in germany, negotiated a $7.5 million ransom demand down to $4.4 million. “the initial ransom ask may not be the final ask, so if they’re planning to pay, it is important for ransomware victims to exercise negotiation options,” according to barracuda’s fleming shi. “the outcome can be savings in the.

Ransomware Payments Explode Amid Quadruple Extortion Threatpost Ransomware payments explode amid ‘quadruple extortion’. device 42 places the regular payout at about 50 percent a million, while barracuda has tracked a 64 percent calendar year in excess of 12 months spike in the variety of attacks. two experiences slap challenging figures on what is currently crystal apparent: ransomware attacks have. That record breaking $1 billion plus in extortion payments was a result, in part, of the sheer number of ransomware attacks in 2023. that resulted in close to 75 percent of ransomware payments. As they’ve adopted these new extortion approaches, ransomware gangs have gotten greedier. among the dozens of cases that unit 42 consultants reviewed in the first half of 2021, the average ransom demand was $5.3 million. that’s up 518% from the 2020 average of $847,000. the highest ransom demand of a single victim seen by our consultants. The blackcat ransomware group employs quadruple extortion techniques to pressure victims into paying ransoms. recently, the ransomware group increased its stakes to $2.5 million. since not all ransomware attacks are reported, it is difficult to estimate the average ransomware payment.