Q2 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 56.9%.

3. The manufacturing sector is the most affected, comprising 22.9% of the total incidents, reflecting its prominence as a high-value target for cybercriminals.

4. Different ransomware groups employ varied tactics. For instance, the Play ransomware group focuses on exploiting vulnerabilities in Microsoft Exchange.

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.