Ransomware Payouts Jumped More Than 300% in 2020

Money, Money, Money

Ransomware is profitable, but just how much? Initial reports for 2020 are in and the payday was huge. BankInfoSecurity.com reported that there was about “370 million in known 2020 ransomware profits – via ransoms that got paid – which represents a 336% increase over known 2019 earnings…”

These numbers are only reflecting what was reported. If you’re a regular reader, you know that we discuss transparency a lot here. And transparency is still a problem in ransomware reporting.

While some victims only release the most basic of information, some aren’t reporting at all. The $370 million in ransomware payouts isn’t the total, but it gives us a better picture of where the Cybercrime-as-a-Service (CaaS) industry is going. Yes, it is an industry, and a profitable one.

For more information how to keep yourself safe, or how to report an attack, visit the FBI’s ransomware website. And remember to stay safe out there.

Photo by Christine Roy on Unsplash

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One thought on “Ransomware Payouts Jumped More Than 300% in 2020

  1. I read online in several places that KIA Motors was the victim of a ransomware attack in February, with a demand of $20 million. They vehemently denied it and claimed they were doing a “software update”. The mainstream media was silent on this. However, my 2021 Seltos was in the repair shop for 23 days, because of this “update”. Do you know the real story? Thanks.

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