February 20, 2024 at 03:17PM
Ransomware attacks in 2023 saw a 20% increase in median initial ransom demands, reaching $600,000. Sectors such as legal, government, retail, and energy are seeing median demands of $1 million or more. LockBit, BlackCat/ALPHV, and Cl0p were the primary groups carrying out attacks, with LockBit dominating the market.
Key takeaways from the meeting notes are:
1. Ransomware attacks in 2023 saw a 20% spike in the median initial ransom demand, reaching $600,000. Certain sectors such as legal, government, retail, and energy witnessed median demands of $1 million or more.
2. Manufacturing was the most targeted industry, potentially due to the existential threat production downtime poses to factories, making them lucrative targets for extortion.
3. LockBit 3.0, BlackCat/ALPHV, and Cl0p were the primary groups responsible for the majority of cyberattacks, with LockBit dominating the ransomware activity, accounting for 25% of the market. Law enforcement disruptions have impacted these groups but the threat landscape remains competitive and cutthroat.
These are the key points extracted from the meeting notes provided.