Analysis of Counter-Ransomware Activities in 2024
The scourge of ransomware continues primarily because of three main reasons: Ransomware-as-a-Service (RaaS), cryptocurrency, and safe havens. RaaS platforms enable aspiring cybercriminals to join a gang and begin launching attacks with a support system that help extract ransom payments from their victims. Cryptocurrency enables cybercriminals to receive funds from victims around the world without the option to freeze or refund them due to the immutable nature of the virtual funds. Safe havens are countries that permit cybercriminals to launch attacks without immediate fear of arrest, enabling them to earn vast fortunes through ransomware campaigns. With these three challenges in mind, law enforcement and governments have a very difficult job to do when it comes to fighting ransomware but fight it they must. In this blog we shall recall what counter-ransomware activities took place in 2024, analyse their effectiveness, and assess how the landscape shall evolve as a result. ...