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Press Release

Arete Releases Turning Tides – Navigating The Evolving World of Cybercrime Detailing Ransomware Trends and Shifts in The Cyber Threat Landscape.

Boca Raton, Florida, August 16, 2023 –– Arete, a leading global cyber risk management company, released Turning Tides – Navigating the Evolving World of Cybercrime, a report highlighting trends and shifts in the cyber threat landscape observed by Arete in the first half of 2023. The report leverages data collected during Arete incident response engagements 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:

  • In the first half of 2023, LockBit rose to the top spot, accounting for 30.3% of Arete’s observed ransomware cases.
  • Professional services is the most targeted sector, with a nearly 12% increase from the second half of 2022.
  • While the overall ransom demands from cybercriminals continue to trend upwards, Arete’s data shows that a ransom was paid in just 19% of cases in the first half of 2023.

The report offers an in-depth analysis of the top five ransomware variants observed, as well as data on initial access vectors and post-exploitation toolsets. It also explores shifts in the threat landscape, including the lower barrier of entry into cybercrime that is powered by leaked resources, new business models, and AI tools. We also discuss the socioeconomic impacts of the Russia-Ukraine War and the increase in global law enforcement actions against cybercriminals.

“Cybercrime is constantly shifting in response to new vulnerabilities, developing technology, and global socioeconomic events,” said Arete’s Chief Data Officer, Chris Martenson. “Remaining aware of the latest trends and shifts allows organizations to take a proactive approach to cybersecurity and create data-driven strategies to protect their data and systems,” Martenson added.

Download Turning Tides – Navigating the Evolving World of Cybercrime. 

About Arete

Arete transforms the way organizations prepare for, respond to, and prevent cybercrime. With decades of industry experience, our team combines hundreds of investigative, technical, and cyber risk management practitioners with best-in-class data and software engineers. This elite team of experts provides unparalleled capabilities to address the entire cyber incident life cycle, from incident response and restoration to advisory managed security services.

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Name: Annemarie Cyboron

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Phone: +1-646-907-9767