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Ransomware has gotten a lot of attention in 2021, primarily due to the disruption attacks have caused to supply chains around the world. From Colonial Pipeline to Quanta, ransomware has made headlines and shows little sign of slowing down.

Ransomware Methodology, Victimology, and What to Expect in 2022

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Ransomware is a major problem, and it’s not going away. To understand it, we must understand why threat actors turn to it—and how it can be stopped. The best way to do that is to chat with the masterminds behind these attacks.

Deconstructing the Ransomware Landscape: Interactions with a Threat Actor

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Abnormal Intelligence Research

From the start of 2020 to the end of 2021, the Abnormal team identified 4,200 companies, organizations, and government institutions that have all fallen victim to a ransomware attack.

Download this full report on ransomware threat actors and their victims for insights like: 
<ul><li>Over half of all victims are located in the United States</li><li>Five ransomware groups are responsible for 50% of all attacks</li><li>The median revenue of a ransomware victim organization is $27 million</li><li>One-fifth of all ransomware victims are in the manufacturing industry</li></ul>
Fill out the form for your copy. To receive data specific to your industry, email us at ransomware@abnormalsecurity.com for more information.

Thanks for downloading The Evolution of Ransomware: Victims, Threat Actors, and What to Expect in 2022! You can <a href="https://files.abnormalsecurity.com/production/files/Ransomware-Trends-Victims-Threat-Actors.pdf?dm=1675097605" target="_blank" rel="noreferrer noopener">download the report here</a> or read the Executive Summary below. To claim your (ISC)² CPE credit, please fill out <a href="https://docs.google.com/forms/d/e/1FAIpQLSeXpNB-pZ-mhmRUQCxme-d5JCj_4lDYyxVyRHiDBb2ypV5xfQ/viewform" target="_blank" rel="noreferrer noopener">this form</a>.

While ransomware has been a problem for three decades, the last few years brought rapid changes to the threat ecosystem. Our research shows that ransomware delivery methods have evolved, payouts are growing in frequency and total cost, and there are more malicious actors participating in ransomware than ever before. 
The average payment amount in ransomware attacks has skyrocketed from hundreds of dollars just five years ago to tens of thousands of dollars today, with some payments reaching millions of dollars. Today’s ransomware landscape is primarily driven by three factors, most notably ransomware-as-a-service (RaaS), extortion beyond encryption, and the evolution of cryptocurrency payments. Combined, it creates an environment where ransomware attacks have become more popular, particularly in the last two years. 
From the start of 2020 to the end of 2021, the Abnormal team identified 4,200 companies, organizations, and government institutions that have all fallen victim to a ransomware attack. While manufacturing companies were the most common victims, representing 20% of ransomware attacks, all industries are at risk.

Ransomware victims by primary industry

Enterprise companies represent a larger payout, but small businesses are the most common victims due to opportunistic targeting and fewer cybersecurity resources. The median revenue of ransomware victims since 2020 is just $27 million, and only 10% of victims have revenue above $1 billion.
Although companies in the United States have received half of the attacks since 2020, ransomware is a global problem. It’s most prevalent in countries with a high GDP, although it’s not as pervasive in Asian countries and is nonexistent in Russia. Because many top ransomware groups are based in Russia, they may purposefully avoid ruffling feathers by not targeting domestic companies.

Ransomware victims by country location

Five ransomware groups are responsible for more than half of the attacks since 2020. We saw noticeable spikes in attacks in August 2020 due to Conti and REvil, and again in October 2021 due to Conti, LockBit, and Pysa. The growth of RaaS as a delivery method means a small number of ransomware groups can drive substantial malicious activity. One silver lining is that the centralized hierarchy of RaaS means law enforcement efforts can disrupt a large portion of attacks. But the threat is evolving: when one group is taken down, new ones sprout to take its place, often capitalizing on the experience of their predecessors.

Ransomware number victims group

In short, the threat of ransomware is growing and attacks and payout amounts are increasing substantially. Attackers target companies of all sizes across all industries, and even small groups of cybercriminals can cause disproportionate damage. This threat is difficult to stop, and it is vital that organizations invest in cybersecurity solutions against ransomware to protect themselves and their end users—before it’s too late.

The Evolution of Ransomware: Victims, Threat Actors, and What to Expect in 2022

<h3><a href="https://files.abnormalsecurity.com/production/files/Ransomware-Trends-Victims-Threat-Actors.pdf?dm=1675097605" target="_blank" rel="noreferrer noopener">View the report</a> to continue learning about trends in ransomware.</h3>

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Download the report for insights into 4,200 ransomware attacks across 2020 and 2021. You'll learn about ransomware trends by industry, size, and location.

Threat Intelligence Report: Ransomware Threat Actors & Victims

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Our threat report on ransomware shares insight on attack methods, locations, payouts, and more across 4,200 victims.

https://abnormalsecurity.com/resources/ransomware-victims-threat-actors

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The Evolution of Ransomware: Victims, Threat Actors, and What to Expect in 2022

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