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Hackers hunting for bigger targets

After declining in 2022, ransomware payments soared in the first half of the year as cybercrooks honed in on big companies with deep pockets. From January to June, companies paid at least $449 million in ransoms, an increase of $176 million from the same period last year, according to Chainalysis, which tracks illicit payments made in cryptocurrency, the No. 1 way ransoms are paid.

 

This trend of “big-game hunting” is lucrative for cybercrooks, who have raised their initial ransom demands to tens of millions of dollars per attack.

 

While ransomware attacks and ransom payments have risen, overall cyberattacks have declined, especially low-level scams, with crooks netting 77% less revenue for non-ransomware attacks in the first half of the ye

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