Ransomware Hackers Stole More Than $1 Billion in 2023 | #ransomware | #cybercrime

Ransomware gangs stole more than $1 billion in 2023, the largest amount ever recorded, according to a report published Wednesday by blockchain analysis firm Chainalysis Inc.

With ransomware hacks, cybercriminals block access to a victims’ data or files until they pay an extortion fee, typically through cryptocurrency. In 2023, hackers nearly doubled the funds stolen in 2022 and exceeded previous records made in a ransomware boom during the pandemic, according to the report. Chainalysis said ransomware hackers made off with $567 million in 2022.

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