Ransomware Tracker [2023]

To this day, many companies believe that ransomware is a phantom threat rather than a highly-probable cyber incident. In reality, 37% of businesses were hit by ransomware in 2021. The number of successful attempts as well as the volume of stolen data is constantly rising. These attacks undermine the lives of individuals, businesses, economies, and the very basis of the law society.

We created a list of ransomware attacks on companies, NGOs, and governments to demonstrate their prevalence and related risks. This tracker reports the incidents that made their way to the media as well as those that were submitted to us by our readers. It shows both the rise in attack numbers and the devastating consequences of not having a reliable ransomware protection tool.

Ransomware Basics

According to Cybersecurity and Infrastructure Agency, Ransomware is an ever-evolving form of malware designed to encrypt files on a device, rendering any files and the systems that rely on them unusable. Malicious actors then demand ransom in exchange for decryption. The most recent strains of ransomware steal data before decrypting, the technique called double-extortion. Ransomware actors often target and threaten to sell or leak exfiltrated data or authentication information if the ransom is not paid.

In recent years, ransomware incidents have become increasingly prevalent among the Nation’s state, local, tribal, and territorial (SLTT) government entities and critical infrastructure organizations.

2021 Statistics:

• Ransomware frequency was 11 seconds
• 37% of all businesses were hit by an attack
• 57% of victims managed to recover their data from a backup
• 32% of companies hit by ransomware paid ransom
• $570,000 is the average ransom
• $50M is the highest ransom demand
• $1.85M is the average cost of recovery after the attack

Industry statistics:

• Three most targeted sectors in 2021: industrial goods and services (1), education (2), and healthcare (3)
• In 2021, ransomware attacks on the government tripled the previous year’s high point.
• 90% of all financial institutions experienced ransomware attacks in 2020.
• almost a quarter of all ransomware attacks target professional services firms, especially small and midsize law firms.

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