Ransomware Payments Drop 33% in 2024, But Experts Urge Caution

Ransomware payments dropped 33% to $734M in 2024, but attack numbers remain high, impacting manufacturing, finance, and healthcare.

By Content Team

Dec 8, 2025

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Ransomware payments fell sharply in 2024, dropping 33% from $1.1 billion to $734 million, according to a new Treasury Department report. The Financial Crimes Enforcement Network study offers cautious hope after ransomware payments skyrocketed 77% in 2023.

However, the number of attacks barely budged—1,476 incidents in 2024 versus 1,512 in 2023. Manufacturing bore the heaviest burden with 456 attacks and $285 million in payments, followed by financial services (432 incidents, $366 million) and healthcare (389 attacks, $305 million).

Officials identified 267 ransomware variants over three years, with ALPHV/BlackCat leading the pack. While the payment decline is encouraging, experts warn it's too early to declare victory over ransomware.

Source: CyberScoop

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