H1 2024 Crimeware Report

Arete Releases H1 2024 Crimeware Report Detailing Ransomware and Extortion Trends and Shifts in the Cyber Threat Landscape

Boca Raton, Florida, August 21, 2024 –– Arete, a pioneering leader in incident response, counter extortion services, and cyber risk management, released its H1 2024 Crimeware Report, highlighting key trends and notable shifts in the cyber threat landscape. The report leverages data collected during Arete’s response to ransomware and extortion attacks during the first half of 2024 and explores the rise and fall of ransomware variants, trends in ransom demands and payments, industries targeted by ransomware attacks, and what may be coming next.

Key findings within the report:

• International law enforcement actions against LockBit and ALPHV/BlackCat—the two most prolific Ransomware-as-a-Service (RaaS) groups coming into 2024—resulted in a significant splintering in the ransomware and extortion landscape.
• Initial ransom demands have steadily declined since the beginning of 2023, while median ransom payments remained about the same over the same timeframe.
• Victim organizations continue demonstrating an improved capability to recover from attacks without paying ransom demands.
• Tools and malware used by threat actors showed little change compared to 2023, with remote monitoring and management (RMM) tools, Cobalt Strike, and various malware variants remaining commonplace in threat actor toolkits.

The report offers analysis and insights on shifts in the threat landscape, including data and threat intelligence on ransomware groups with increased activity. It also explores trends in initial ransom demands and the percentage of time a ransom is paid, notable law enforcement actions, and commonly observed tools and malware used by threat actors.

“Arete’s unique experience in responding to ransomware and extortion, as well as managed and advisory services, provides one-of-a-kind data and visibility of the threat landscape,” said Geoff Brown, Arete’s President and Chief Operating Officer. “We are dedicated to providing our partners and clients with insights and leveraging our visibility in the shared fight against cyber extortion,” Brown added.

Download Arete’s H1 2024 Crimeware Report

About Arete

At Arete, we envision a world without cyber extortion, where people, businesses, and governments can thrive. We are taking all that we know from over 8,000 engagements to inform our solutions and strengthen powerful tools to better prevent, detect, and respond to the cyber extortion threats of tomorrow. Our elite team of experts provides unparalleled capabilities to address the entire cyber threat lifecycle, from incident response and restoration to advisory and managed security services. To learn more about our solutions, visit www.areteir.com.