More Ransomware Victims Are Declining to Pay Extortionists


The number of victims who opt to pay a ransom appears to have declined to a record low.

During the last three months of 2023, an average of 29% of organizations hit by ransomware paid a ransom, said ransomware incident response firm Coveware, based on thousands of cases on which it worked. In the same time frame, cyber insurance provider Corvus said claims data shows 27% of its policyholders who were hit by ransomware paid a ransom.

The increase in victims’ propensity to tell their attackers to take a hike, especially toward the end of 2023, is a notable shift from what ransomware watchers saw in recent years.