FREE REPORT: A New Way to Earn Passive Income in 2025 DOWNLOAD

98% cryptocurrency ransom payments were made in Bitcoin; report

12054
Bitcoin ransomewareBitcoin ransomeware

Contents

Share link:

In this post:

According to the report published by Coveware on the 15th of April, the greatest share of ransomware payments comes from Bitcoin.

The Q1-2019 Global Ransomware Marketplace report is said to be based on a collection of data on ransomware from the cases that were handled by the Incident Response Team at Coveware. This report shows a distinct rise in the ransom that threat actors ask for.

The average ransom demanded for the apparent delivery of a tool to decrypt the malware affected system and repair damage inflicted upon it, has increased by eighty nine percent (89%) from the median six thousand seven hundred and thirty three dollars ($6,733) as reported in the Q4 2018, to twelve thousand seven hundred and sixty two dollars ($12,762) reported in the Q1 2019.

Ninety-eight (98%) percent of the ransom paid for repairing the damaged systems was payable in BTC.

In this report, it is stated that the handling of cryptocurrency is still a major cause of trouble for the victims and it is not likely for the ransomware to shift towards another digital currency since they are relatively new and more difficult to handle.

This report also mentions that threat actors have little need to transition from BTC as they do not find it difficult to use mixed services and migrating to more privacy-based cryptocurrencies. So, privacy coins are merely used for two percent of the payments to threat actors.

See also  House Republicans amend Trump's Big Beautiful bill to strip out filibuster-triggering provisions

Almost twenty percent (20%) of the market is accounted for by a ransomware known as GrandCrab, which, according to Coveware data, was the one and only strain that prevailed where the payment was accepted in BTC or DASH by threat actors.

KEY Difference Wire helps crypto brands break through and dominate headlines fast

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...

- The Crypto newsletter that keeps you ahead -

Markets move fast.

We move faster.

Subscribe to Cryptopolitan Daily and get timely, sharp, and relevant crypto insights straight to your inbox.

Join now and
never miss a move.

Get in. Get the facts.
Get ahead.

Subscribe to CryptoPolitan