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Crypto ransomware revenue drops 35% to $813 million in 2024 amid tougher crackdowns and victim resistance – TON BOT

Crypto ransomware revenue drops 35% to $813 million in 2024 amid tougher crackdowns and victim resistance

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Ransomware payments in the crypto industry decreased by 35% in 2024, falling to $813 million from the previous year’s $1.25 billion. This decline was attributed to stricter law enforcement actions, international cooperation, and growing victim resistance. Attackers adapted their laundering techniques, shifting from mixing services to cross-chain bridges, with a significant portion of ransom funds remaining in personal wallets. Regulatory actions targeting illicit transactions, such as seizing Russian-language no-KYC exchanges and imposing sanctions on Cryptex, also contributed to the decline in ransomware payments.

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