Cybercriminal gangs launch ransomware attacks to encrypt businesses’ sensitive data and get paid a significant ransom.

Sometimes hackers even use a method called double extortion. They threaten the organization to sell the stolen information online if the ransom is not paid – according to Atlas VPN.

The attacks have become one of the most dangerous threats to organizations and government entities worldwide.

Ransomware hackers drained over 30 terabytes of sensitive data

Ransomware has become more efficient and devastating in its attacks. Hackers stole over 30 terabytes (TB) of personal and other sensitive data in 320 incidents in 2022.

The total number of attacks could be even bigger. Many companies lack transparency when reporting such incidents.

The largest semiconductor chip company Nvidia suffered one of the most significant attacks of H1 2022. Hackers from the group Lapsus$ claimed they stole 1TB in exfiltrated company data and demanded a $1 million ransom.

Ransomware volume doubles in 2021 – surpassing 600 million 

Usually, if an organization has not backed up its information in the cloud, it is doomed for big trouble. They either have to pay a hefty ransom or lose data forever.

Research revealed that global ransomware volume surged by 105% in 2021. The total number of attacks represents nearly 20 attempts every second in 2021.

In addition, The United States suffered significantly more ransomware threats than any other country — 421.5 million.

Cybercriminals launched 34.2 million ransomware attacks at Germany and 33.5 million at the United Kingdom.

70% of organizations suffered two or more ransomware attacks

Once hackers know the company has vulnerabilities they can exploit, cybercriminals target it multiple times.

According to Veeam 2022 Ransomware Trends Report, 73% of organizations suffered two or more attacks in the past 12 months. The majority — 44% of ransomware infections entered through phishing emails, links, and websites.

One of the reasons why ransomware is so successful is because businesses keep paying the ransom.

A huge 76% of organizations affected by ransomware in the past twelve months (January 2022 survey) went through with the ransom payment.

However, nearly one in four (24%) companies still could not recover their data afterward.

Japan and Netherlands pay largest price for ransomware attacks

Businesses in Japan paid an average price of nearly $4.3 million in the most significant ransomware attacks in 2021. Moreover, companies in the Netherlands handed over an average of $2 million in ransom to cybercriminals.

In a survey of 5,600 IT professionals in mid-sized organizations (100-5,000 employees) across 31 countries, 79% of media, leisure, and entertainment businesses suffered attacks in 2021.

The retail industry is the second most targeted by ransomware, as 77% of organizations claimed to have suffered an incident.

Half of ransomware attacks globally targeted the US in 2021

Ransomware in the hands of cybercriminals can become a powerful weapon that could cause your business financial and reputational damage.

In 2021, 1,352 (48% of total incidents) ransomware attacks were directed at the United States. Cybercriminals targeted French organizations in 146 attacks.

Furthermore, industrial and energy, retail, and finance industry businesses were among the most threatened sectors.

The industrial and energy sector suffered 599 incidents globally in 2021, while threat actors chose businesses in the retail industry as targets in 545 attacks.