Q1 2024 Ransomware Trends: Key Insights

1. The biggest news of the quarter: Operation Cronos. Led by the international law enforcement agencies, the LockBit ransomware group’s infrastructure was dismantled.

2. The United States, which accounts for more than half of the ransomware attacks, stands by 55,1%.

3. Business, Professional, and Legal Services sector is the most affected, comprising 25.9% of the total incidents, reflecting its prominence as a high-value target for cybercriminals.

4. Exit Scam: BlackCat Ransomware Group vanishes after $22 Million payout.

5. English-speaking countries are particularly attractive to ransomware groups, possibly because of language familiarity, which could make social engineering tactics more effective and the presence of valuable targets in these countries.

6. Poor cybersecurity hygiene significantly elevates a company’s ransomware risk, emphasizing the crucial role of robust security practices.