Ransomware is a type of malware that stops users from accessing their data until a ransomware payment is arranged. The money is usually paid in cryptocurrencies to avoid any kind of detection. Ransomware criminals trick you into clicking on infected links. They usually do this by copying the general look of an email to mask their nefarious intentions.
This cybercrime has established a reputation as a high-yield revenue option, as you will soon see from our ransomware statistics. The truth is, however, that ransomware can only bring a large amount of money to individuals—it falls short with bigger hacker organizations. You will see in the text below how ransomware attacks have become less frequent, but at the same time, they’re becoming more and more targeted and sophisticated.
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Here’s your answer to the question, How much did ransomware make in 2018? This is a large sum, and as a 2018 study from Bromium suggests, cybercrime brings in more revenue than working in a legitimate company. This figure includes both of the types of ransomware, as in, encryption and screen-locking ransomware.
How much does ransomware cost? This is an incredibly high surge compared to 2016, when the annual cost of ransomware was estimated at $1 billion. It’s also important to mention that the money is only a part of what a company loses. The company’s reputation, the downtime, and other factors all amount to disastrous consequences behind these ransomware statistics.
Attackers have realized that businesses will bring them a higher revenue than an individual person. Even though the use of ransomware has decreased, the attacks are now more targeted manual attacks, according to a 2019 report on the state of malware from Malwarebytes.
This did not prove too effective, as most businesses seek help in vain. The amount of time businesses spend unable to access their data, as well as the costs of rebuilding, well surpass the ransom demand.
This mostly goes for small business ransomware attacks. The 2017 prices increased threefold when compared to 2016. Conversely, the average ransomware demand in 2018 is larger for enterprises.
Some individual new versions of file-encrypting ransomware require quite a bit more money than the yearly average, as stated in the McAfee ransomware report from December 2018. Past versions asked for $1,000.
So much for the efficacy of the legal system and their ability to make up for the companies’ losses caused by cyberc