What This Report Covers
This edition covers the first quarter of 2024. The main news was Operation Cronos, in which international law enforcement dismantled LockBit’s infrastructure.
The United States accounted for 55.1% of ransomware attacks. Business, professional and legal services was the most affected sector at 25.9% of incidents. The report also describes an exit scam, in which the BlackCat group vanished after a 22 million dollar payout, and notes that English-speaking countries may attract groups because social engineering is easier there.
It reads well next to the LockBit profile for context on the takedown.
The report mixes statistics with notable events of the quarter, which makes it helpful both for analysts who need numbers and for managers who want to understand what changed in the threat landscape.
Security professionals often struggle to keep up with evolving ransomware trends due to the constant barrage of information. We aim to help you filter this overload, present the 2023 Ransomware Trends in an understandable format, and convert this information into meaningful insights.
Exploring Ransomware Trends in Q1 of 2024: Our Comprehensive Analysis
Q1 2024 Ransomware Trends: Key Insights
- The biggest news of the quarter: Operation Cronos. Led by the international law enforcement agencies, the LockBit ransomware group’s infrastructure was dismantled.
- The United States, which accounts for more than half of the ransomware attacks, stands by 55,1%.
- 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.
- Exit Scam: BlackCat Ransomware Group vanishes after $22 Million payout.
- 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.