In 2024, ransomware payments fell by 35%, totaling $813 million, down from $1.25 billion the previous year, as reported by Chainalysis. Increased law enforcement actions, sanctions against crypto exchanges like Cryptex, and a reluctance among victims to pay contributed to this decline. Notably, there was a 53% discrepancy between ransom amounts demanded and those actually paid in the latter half of the year. Chainalysis attributes this to better international cooperation, more robust cyber defense measures, and enhanced crypto investigation tools that discourage cybercriminals.
