Ransomware Extortion Demands Increase to $5.2 Million Per Attack

Ransomware demands are skyrocketing in 2024, with the average extortion demand per ransomware attack exceeding $5.2 million per incident in the first half of the year.

Following an attack on India’s Regional Cancer Centre (RCC) on April 20, a review of 56 ransom demands from January to June of this year revealed that the highest demand was $100 million.

The second and third highest extortion demands were issued to Synnovis, a UK pathology supplier, and London Drugs, a Canadian retailer, at $50 million and $25 million, respectively.

Even though there were 421 ransomware attacks in the first half of 2024 as opposed to 704 attacks in the same time of 2023, the numbers for 2024 are probably going to rise as long as there are more SEC-mandated breach disclosures.

In terms of how much data has been stolen in these attacks, private companies have had 29.7 million records compromised thus far, whilst governments have had 52,390, and the healthcare industry has had a startling 5.4 million exposed records.

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