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Ransomware extortion drops 35% in 2024 amid crypto exchange crackdowns and increasing refusal to pay: Chainalysis

According to Chainalysis, ransomware payments fell 35% to 813 million USD in 2024 from 1.25 billion USD in 2023. A rise in mid-year thefts did not offset the declines in the second half, impacted by sanctions against certain crypto exchanges restricting laundering.

Victims are increasingly reluctant to pay ransoms, with a 53% gap between demands and actual payments noted in late 2024. Law enforcement efforts are credited for this decline, marking a trend away from previous ransom expectations.

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