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CrowdSrike: Cybercriminals Are Choosing Data Extortion Over Ransomware Attacks

CrowdStrike’s threat intelligence recently reported that cybercriminals have been learning how data extortion attacks are more profitable than ransomware attacks, leading to a drastic shift in the behavior of cyber activities throughout 2022. 

The cybersecurity vendor’s “2023 Global Threat Report,” which summarizes CrowdStrike’s research on cybercrime (or “e-Crime”) from the previous year, was released this week. The report’s major sections address ongoing geopolitical disputes, cloud-related attacks, and extortion attacks without the use of software. 

One of the major findings from the CrowdStrike research is that the number of malicious actors who conducted data theft and extortion attacks without the use of ransomware increased by 20% in 2022 compared to the previous year. Data extortion is the practice of obtaining confidential information from target companies and then threatening to post the information online if the victim does not provide the ransom demanded by the attacker. 

Data extortion has frequently been a part of ransomware operations, with the fear of data exposure intended to provide additional incentive for the victim to pay the demanded ransom. However, as per the CrowdStrike findings, more attackers are now inclining toward data extortion, while abandoning the ransomware element altogether. 

Adam Meyers, head of intelligence at CrowdStrike says that “We’re seeing more and more threat actors moving away from ransomware[…]Ransomware is noisy. It attracts attention. It’s detectable. Encryption i

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