Kevin Beaumont, 'The Hard Truth about Ransomware' And that’s just one attack, from one group, that barely made the news radar of most people.' 'One ransomware group receiving a $40m payment for attacking a cybersecurity insurance company gives the attackers more budget to launch cyberattack than most medium to large organizations have to defend against attacks in total. Much has obviously changed, and with billions of dollars in play, saying that today's ransomware operations have matured and evolved is a massive understatement.Īs security researcher Kevin Beaumont puts it in a blog post everyone should read: Their latest report estimates total costs in 2021 hit $20B. In 2017, Cybersecurity Ventures estimated the total cost of damages caused by ransomware would hit $5B for the year.According to Coveware, fast-forward to Q1 2022 and the average ransom payment was $211,529. In Q2 2017, the average estimated ransom demand was between $501 - $2,000.Ex: Compared to the jaw-dropping figures cited in today's reports, some of the ransomware-related stats from 2017 come off as quaint. In some ways, it feels like a lifetime ago (or longer). It's crazy to think that this May marked five years since the WannaCry outbreak helped make ransomware a household name. Here are a dozen ways IT teams of any size can set up automated alerts to detect ransomware attacks before it's too late.

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