Hackers nabbed US$1.3bil in ransom over two years, a new report says

The US, the UK and Australia issued a joint alert Wednesday warning of an increased global threat from ransomware. Hackers have adopted advanced techniques, such as professionalised business models and sharing data about potential victims, officials said. — AFP Relaxnews

Criminals netted US$1.3bil (RM5.43bil) in ransom payments from hacking victims in the past two years, reflecting a massive surge in cybercrime that has prompted a global effort to stop it, according to a new report from Chainalysis Inc.

The cryptocurrency-tracking firm said in an analysis published Thursday it observed a huge increase in ransom payments: US$602mil (RM2.51bil) in payments in 2021 and US$692mil (RM2.89bil) in 2020. The 2021 figure is expected to increase and surpass 2020 as additional information becomes available, according to the report.