Ransomware payments are dominated heavily by Bitcoin accounting for 98%
- A study suggests that Bitcoin accounts for 98% of Crypto-Denominated ransomware payments.
- Q1 2019 saw a sharp increase in average random being demanded by ‘threat actors’.
Recent support suggests that Bitcoin (BTC) continues to account for a large share of crypto-denominated ransomware payments. The study came from the Coveware’s Q1 2019 Global Ransomware Marketplace report.
Detailed within from the report suggested that in Q1 2019 the ransomware reach saw a huge increase in the average ransom demanded by threat actors. Within the release it noted:
Handling cryptocurrency continued to be a major source of friction for victims, and thus the threat actors as well. It is unlikely that ransomware rotates towards a different cryptocurrency anytime soon as they are even more nuanced to procure and handle.”
There was an average reported demand seen across exchanges for the ostensible delivery of what's known as a decryptor tool. This can be used effectively to help victims recover data after a ransomware attack. The figures were touted to have seen a rise of 89% from a median $6,733 in Q4 2018 to $12,762 in Q1 2019.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
