Last year was a record in terms of payments to hackers using ransomware viruses. However, according to analyst firm Chainalysis, 2021 could even surpass 2020.
According to analysts, for the whole of 2020 hackers received $ 416 million, and in the first half of 2021 payments were exactly half – $ 208 million.Thus, 2021 may well set another record. True, if in 2020 the indicator increased 4.2 times, then this year the advantage will be symbolic.
At the same time, the calculation method “lags behind” the actual payments – Chainalisys tracks payments to the addresses of alleged hackers, and it is not always the case that a new wallet immediately falls into the field of view of analysts.
“As always, this is the lower bound of the estimate, as these are only payments that we have confirmed. Our data is a little late, so we can assume that payments in 2021 will be higher than in 2020, ”said Madeleine Kennedy of Chainalysis.
Best of all, Chainalysis tools track payments going through major cryptocurrency exchanges. If hackers use more confidential tools like Monero cryptocurrency, then it is almost impossible to trace transactions.
“Most likely, the total volume of buyouts is much higher, because a significant part of firms simply pay funds without informing anyone about the break-in,” writes Kennedy.
In mid-July, the US authorities announced the creation of a special team to investigate attacks and fight hackers who distribute ransomware and demand ransom in cryptocurrencies.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
