$590 Million Ransomware Payments Reported To US In 2021 As Attacks Spike
NDTV
According to the US Treasury Department report, the figure is 42 percent higher than the amount reported by financial institutions for all of 2020.
New data out Friday showed $590 million in ransomware-related payments were reported to US authorities in the first half of 2021, setting a pace to beat totals for the previous decade as cyber-extortion booms.
According to the US Treasury Department report, the figure is 42 percent higher than the amount reported by financial institutions for all of 2020.
"If current trends continue, (reports) filed in 2021 are projected to have a higher ransomware-related transaction value than (reports) filed in the previous 10 years combined," Treasury said.
The crime involves breaking into an entity's networks to encrypt its data, then demanding a ransom, typically paid via cryptocurrency in exchange for the digital key to unlock it.
