Cybercriminals made away with $602M in crypto ransom in 2021, Chainalysis reports

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  • The blockchain forensics company has talked about that with persisted identification of more events, 2021 numbers could perhaps perhaps perhaps eclipse the figures recorded in 2020
  • The parable furthermore learned that Russian-based Conti led in ransomware attacks last year

Chainalysis’ now not too long previously launched myth on crime in cryptocurrencies in 2021 has indicated that 2021 ransomware payments reached $602 million, a resolve now not up to 2020’s. On common, the quantity paid per ransomware event turned into $118,000, in contrast to $88,000 in 2020 and $25,000 the year sooner than.

On the different hand, Chainalysis famed that the resolve for 2020 (which has now been estimated to be $692 million) sat at $350 million on the time of publication of the previous myth. On the different hand, other hacks events comprise since been identified hence the adjusted resolve.

Due to this truth, the myth insisted that 2021’s resolve could perhaps perhaps perhaps develop to beat 2020’s resolve as more discovery of ransomware addresses is done.

Anecdotal evidence, plus the indisputable truth that ransomware earnings in the first half of 2021 exceeded that of the first half of 2020, suggests to us that 2021 will in the damage be published to were a impartial appropriate bigger year for ransomware,” the myth talked about.

Conti, whose participation turned into indirect, leads the capacity

Further tiny print of the myth published that Russian hacking group Conti turned into primarily the most attention-grabbing beneficiary of these hacks. Conti attackers bilked more than $180 million from their targets by the employ of a ransomware-as-a-provider (RaaS) scheme, implying that Conti furnished affiliated friends with ransomware arrangement at a price.

The parable observed that the series of active ransomware traces had increased year over year from 119 in 2020 to 140 in 2021. This resolve turned into 79 in 2019, evidence of huge development in ransomware over the last two years.

It furthermore pointed out that Conti turned into if truth be told primarily the most attention-grabbing tension that remained active at some level of the year, unlike the rest, which appear periodically.

“Conti turned into the one tension that remained repeatedly active for all of 2021 and, in actuality, observed its piece of all ransomware earnings develop all the arrangement in which thru the year. General even though, Conti’s staying energy is more and more exterior the norm,” the myth be taught.

Chainalysis furthermore famed that a preferred pattern that emerged last year turned into that some traces had been shutting down publicly most productive to relaunch with a selected name. On the different hand, because the blockchain footprint of the money aligned with the prior organisation, the new entity would get uncovered to authorities.

One other Russian group that has made it to the pinnacle of the charts is Darkseid, which infamously held the US Colonial Pipeline hostage for several days forcing it to shell out $5 million. The group obtained up to $75 million thru identical hacks all the arrangement in which thru the year.

The analytics company concluded that ransomware had become a tool in geopolitical disputes, with Iran touted because the perpetrator with primarily the most suspected hyperlinks to ransomware traces.