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Ransomware Extortion Demands Soar to $5.2M per Attack

July 8, 2024
Contributed by: Drex DeFord
In the first half of 2024, ransomware demands have significantly increased, with average extortion demands surpassing $5.2 million per incident. An analysis of 56 ransom demands revealed that the largest was $100 million from an attack on India's Regional Cancer Center in April. The second and third highest demands targeted Synnovis and London Drugs, with $50 million and $25 million, respectively. Although the number of ransomware attacks decreased to 421 from 704 compared to the same period in 2023, the figures are expected to rise due to new SEC-mandated breach disclosures. The impact on data has been substantial, with private businesses reporting 29.7 million affected records, governments 52,390, and healthcare 5.4 million.
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