Against the backdrop of Bitcoin’s price decline, ransomware attacks have fallen substantially, according to researchers at the US cybersecurity firm SonicWall.
The latest #cyber threat data is now available in the newly released mid-year update to the 2022 SonicWall Cyber Threat Report. Navigate the unknowns of tomorrow as SonicWall experts explore this year’s early findings. Get the free report: https://t.co/wmgK7iwBuy #KnowTheThreats pic.twitter.com/YF2I185kE6
— SonicWall (@SonicWall) July 26, 2022
In the first half of 2022, researchers tallied 236 million ransomware infection attempts, 23% lower than in the same period a year earlier.
In discussions with The Block, SonicWall representatives described Bitcoin’s price as an early indicator of ransomware-attack frequency. They said the decline was also aided by higher security standards within companies and by intensified law enforcement activity in the sector.
According to the report, the number of ransomware incidents peaked in 2021. Back then, attackers targeted large companies such as JBS Foods and Colonial Pipeline, which were forced to pay hackers large sums in Bitcoin.
Researchers note that attacks employing hidden miners are increasingly directed at the financial sector.
\”Cryptojacking targeting the retail sector grew by 63% since the start of the year. In the same period, the number of attacks on the financial industry jumped by 269%\”, the report says.
The SonicWall vice president Terry Grigg-King noted that attacks using hidden miners can be hard to detect at times. He said many users do not realise that the slowdown of their devices is due to attackers’ actions.
Earlier, US authorities seized $500,000 paid to North Korea-linked ransomware operators.
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