Ransomware payments are falling as victims refuse to pay up TechRadar Skip to main content TechRadar is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Here's why you can trust us. Ransomware payments are falling as victims refuse to pay up By Sead Fadilpašić published 29 July 2022 And those that do pay up still often still don't get their data back (Image credit: Future) Audio player loading… It's getting harder for ransomware operators to get the victims to pay up, but once they do - they pay more than they did a year ago. A new report from Coveware claims that although the number of payments dropped, the value of the payments made rose. It found the average ransom payment for the second quarter of the year was $228,125, up 8% compared to the quarter before. At the same time, the median ransom payment was "just" $36,360, which is a drop of more than half (51%), compared to Q1. Targeting smaller firms This change doesn't appear to be a one-off, but a trend that started in the fourth quarter of 2021, when payments were at their highest (average was $332,168, and median was $117,116). "This trend reflects the shift of RaaS affiliates and developers towards the mid-market where the risk to reward profile of attack is more consistent and less risky than high profile attacks," the report reads. "We have also seen an encouraging trend among large organizations refusing to consider negotiations when ransomware groups demand impossibly high ransom amounts." The change could also be due to the fact that ransomware operators set their sights on a different kind of business. They're now targeting smaller, but financially stable organizations, Coveware added. When it comes to most active families, there had been no significant changes, with BlackCat still topping the list with 16.9% of all known attacks. With 13.1%, LockBit was second. Read more> One of the most dastardly ransomware strains has received a Rust-flavored upgrade (opens in new tab) > Ransomware actors have found a new way to make victims pay up (opens in new tab) > Here's the best endpoint protection software around (opens in new tab) Their tactics have not changed much, either, as double extortion attacks (encryption + data theft and the threat of leaks), being the most popular method. Almost all incidents (88%) included both data encryption and theft. Coveware also reiterated what experts have been saying all this time - paying does not pay, as in many cases, threat actors continued the extortion, or leaked the stolen files despite being paid. The average downtime that came as a result of ransomware attacks dropped by 8%, to 24 days, compared to Q1.Keep your devices secure from malware with the best malware removal software (opens in new tab) right now Via: BleepingComputer (opens in new tab) Sead Fadilpašić Sead is a seasoned freelance journalist based in Sarajevo, Bosnia and Herzegovina. He writes about IT (cloud, IoT, 5G, VPN) and cybersecurity (ransomware, data breaches, laws and regulations). In his career, spanning more than a decade, he's written for numerous media outlets, including Al Jazeera Balkans. He's also held several modules on content writing for Represent Communications. See more Computing news Are you a pro? Subscribe to our newsletter Sign up to theTechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Thank you for signing up to TechRadar. You will receive a verification email shortly. There was a problem. Please refresh the page and try again. MOST POPULARMOST SHARED1The iPhone 14 Pro is made of the wrong stuff; the Pixel 7 proves that to me27 new movies and TV shows on Netflix, Prime Video, HBO Max and more this weekend (October 7)3Stop saying Mario doesn't have an accent in The Super Mario Bros. Movie4Microsoft Teams users are using it for a really bad reason, so stop now5Google Pixel Tablet is what Apple should've done ages ago1Best laptops for designers and coders 2The iPhone 14 Pro is made of the wrong stuff; the Pixel 7 proves that to me3iPhone 15 tipped to come with an upgraded 5G chip4Logitech's latest webcam and headset want to relieve your work day frustrations5Best offers on Laptops for Education – this festive season Technology Magazines (opens in new tab)● (opens in new tab)The best tech tutorials and in-depth reviewsFrom$12.99 (opens in new tab)View (opens in new tab)