A report from ransomware response firm Coveware showed a 38% decrease in the average amount of money that businesses paid to criminals as a result of ransomware extortion this quarter. Coveware reported the average ransomware payment for the first quarter of 2021 was $220,298, which was a 43% increase from the last quarter of 2020. The report suggests the decrease to be a result of increased pressure the US government has put on ransomware threat actors. Following three major ransomware attacks on US critical infrastructure, the US government has called for better legislation, increased law enforcement action and pressured world leaders to act against threat actors operating within their borders. The increased media coverage of such events has also caused private sector organizations to prioritize cybersecurity, to ensure they are not the next victim of an attack.
By Akshay Rohatgi and Randy Pargman About this Student Research Project Binary Defense’s mission is