Close Menu
Cryphedge.com
  • Home
  • Crypto News
    • Bitcoin
    • NFT News
  • Altcoins
  • Scams
  • Blockchain
  • Regulations
  • Trading
Facebook X (Twitter) Instagram
Cryphedge.com
  • Home
  • Crypto News
    • Bitcoin
    • NFT News
  • Altcoins
  • Scams
  • Blockchain
  • Regulations
  • Trading
Cryphedge.com
Home » Crypto ransomware revenue drops 35% to $813 million in 2024 amid tougher crackdowns and victim resistance
Crypto ransomware revenue drops 35% to 3 million in 2024 amid tougher crackdowns and victim resistance

Crypto ransomware revenue drops 35% to $813 million in 2024 amid tougher crackdowns and victim resistance

February 6, 20252 Mins ReadNo Comments Scams
Share
Facebook Twitter LinkedIn Pinterest Email

The crypto industry saw ransomware payments decline by 35% in 2024, falling to $813 million from the previous year’s $1.25 billion, according to Chainalysis‘ 2025 Crypto Crime Report.

According to the firm, this marks the most significant annual decline in ransomware revenue over the past three years.

Crypto Ransomware Payments (Source: Chainalysis)

Crypto ransomware 2024

Despite an initial uptick in attacks during the first half of 2024 — one victim reportedly paid $75 million to the Dark Angels group — ransomware payments plummeted in the latter half of the year. The report credited the decline to stricter law enforcement action, stronger international cooperation, and growing victim resistance.

Additionally, global authorities have ramped up their crackdown on cybercrime, targeting platforms that facilitate illicit transactions. A prime example is the US and allied countries imposing sanctions on Russia-based crypto exchange Cryptex for enabling money laundering and ransomware-related activities.

Interestingly, while ransomware incidents rose, fewer victims chose to pay. Roughly 30% of negotiations resulted in a ransom payment, with many opting for decryption tools or restoring from backups instead.

Meanwhile, the report also highlights a widening gap between demanded ransoms and actual payments. In the second half of 2024, attackers demanded far more than what victims ultimately transferred, with payments falling short by 53%. Those who did pay sent an average of $150,000 to $250,000—significantly lower than initial demands.

Laundering tactics evolve

As ransomware payments declined, attackers adapted their laundering techniques. Traditionally, ransomware actors relied on mixing services to obscure fund flows, with these platforms processing between 10% and 15% of illicit transactions.

However, law enforcement crackdowns on services like Tornado Cash, ChipMixer, and Sinbad significantly dropped mixer usage in 2024.

Crypto Ransomware Laundering Crypto Ransomware Laundering
Crypto Ransomware Laundering Techniques (Source: Chainalysis)

Instead, ransomware operators turned to cross-chain bridges to move funds covertly. Centralized exchanges (CEXs) remained a primary off-ramping channel, accounting for 39% of ransomware-related transactions—slightly above the 37% average observed between 2020 and 2024.

Meanwhile, an unexpected trend emerged as a substantial portion of ransom funds remained in personal wallets rather than being cashed out. The shift suggests heightened caution among ransomware actors, who may fear unpredictable law enforcement actions targeting illicit transactions.

Law enforcement’s crackdown on no-KYC exchanges significantly impacted illicit fund flows. In September 2024, German authorities seized 47 Russian-language no-KYC crypto exchanges, while sanctions targeted Cryptex.

Shortly after, ransomware-related inflows to no-KYC platforms dwindled, reinforcing the effectiveness of regulatory actions.

Mentioned in this article
BlocscaleBlocscale
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
cryphedge

Related Posts

You’re Hired! North Korea’s new crypto scam starts with a job offer

June 20, 2025

ZachXBT warns suspected ZKasino fraudster may be linked to new crypto venture WhiteRock

June 16, 2025

Coinbase data breach spills offline as victims get scam mail

June 5, 2025

US Treasury sanctions Philippines tech firm over aiding $200 million pig butchering spree

May 30, 2025
Add A Comment

Comments are closed.

Editors Picks

SOL price jumps 8% as BTC, ETH rally on Israel-Iran ceasefire

June 24, 2025

Senator Adam Schiff Moves to Ban Presidents and Families From Profiting Off Crypto

June 24, 2025

Crypto Market Experience ‘Panic Selling’ Amid Iran Conflict, $640M In Liquidated Over Past 24 Hours

June 23, 2025

Is a Breakout Rally Coming?

June 23, 2025
About

cryphedge is an online news portal that aims to share the latest crypto news, bitcoin, altcoin, blockchain, nft news, regulation, trading, crypto scams and much more stuff.

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin Dips Under $104K Amid $600M Liquidations—Qubetics, Near, And XRP Still Among Top Coins To Join Today

June 2, 2025

Will Ethereum Hold $3K? Profitability Metrics Say Otherwise

February 2, 2025

What’s Next for Pepe Price?

February 19, 2025
Subscribe
Please enable JavaScript in your browser to complete this form.
Loading
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,283.003.67%
  • ethereumEthereum(ETH)$2,418.337.40%
  • tetherTether(USDT)$1.000.04%
  • rippleXRP(XRP)$2.198.94%
  • binancecoinBNB(BNB)$639.422.91%
  • solanaSolana(SOL)$144.247.35%
  • usd-coinUSDC(USDC)$1.000.01%
  • tronTRON(TRX)$0.2715941.86%
  • dogecoinDogecoin(DOGE)$0.1637067.13%
  • staked-etherLido Staked Ether(STETH)$2,416.877.34%
  • cardanoCardano(ADA)$0.586.94%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$105,152.003.47%
  • HyperliquidHyperliquid(HYPE)$36.813.85%
  • Wrapped stETHWrapped stETH(WSTETH)$2,918.647.62%
  • suiSui(SUI)$2.8011.37%
  • bitcoin-cashBitcoin Cash(BCH)$461.981.91%
  • chainlinkChainlink(LINK)$13.1210.78%
  • leo-tokenLEO Token(LEO)$9.150.97%
  • stellarStellar(XLM)$0.2470786.90%
  • avalanche-2Avalanche(AVAX)$18.115.75%
  • USDSUSDS(USDS)$1.000.00%
  • the-open-networkToncoin(TON)$2.905.32%
  • whitebitWhiteBIT Coin(WBT)$48.290.68%
  • shiba-inuShiba Inu(SHIB)$0.0000128.50%
  • hedera-hashgraphHedera(HBAR)$0.15189910.53%
  • litecoinLitecoin(LTC)$84.664.63%
  • WETHWETH(WETH)$2,418.017.41%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.000.11%
  • Wrapped eETHWrapped eETH(WEETH)$2,589.017.46%
  • moneroMonero(XMR)$317.984.65%
  • Ethena USDeEthena USDe(USDE)$1.000.05%
  • polkadotPolkadot(DOT)$3.426.84%
  • bitget-tokenBitget Token(BGB)$4.244.37%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$105,271.003.59%
  • pepePepe(PEPE)$0.00001012.49%
  • uniswapUniswap(UNI)$6.9110.12%
  • Pi NetworkPi Network(PI)$0.535.27%
  • aaveAave(AAVE)$262.8513.79%
  • daiDai(DAI)$1.000.01%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.180.08%
  • BittensorBittensor(TAO)$353.9914.19%
  • okbOKB(OKB)$51.861.47%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • aptosAptos(APT)$4.327.69%
  • sUSDSsUSDS(SUSDS)$1.060.02%
  • nearNEAR Protocol(NEAR)$2.1814.17%
  • internet-computerInternet Computer(ICP)$4.957.81%
  • crypto-com-chainCronos(CRO)$0.0851115.84%
  • Jito Staked SOLJito Staked SOL(JITOSOL)$174.637.33%
  • ethereum-classicEthereum Classic(ETC)$16.356.39%
  • OndoOndo(ONDO)$0.7714.17%
  • Tokenize XchangeTokenize Xchange(TKX)$27.791.76%
  • USD1USD1(USD1)$1.00-0.09%
  • mantleMantle(MNT)$0.613.88%
  • gatechain-tokenGate(GT)$16.460.67%
  • kaspaKaspa(KAS)$0.07470212.41%
  • fasttokenFasttoken(FTN)$4.440.01%
  • Official TrumpOfficial Trump(TRUMP)$9.347.85%
  • vechainVeChain(VET)$0.02161610.29%
  • cosmosCosmos Hub(ATOM)$4.037.23%
  • fetch-aiArtificial Superintelligence Alliance(FET)$0.6814.35%
  • SkySky(SKY)$0.08282210.96%
  • Lombard Staked BTCLombard Staked BTC(LBTC)$104,851.003.30%
  • render-tokenRender(RENDER)$3.2614.40%
  • EthenaEthena(ENA)$0.26907110.39%
  • polygon-ecosystem-tokenPOL (ex-MATIC)(POL)$0.1815434.31%
  • arbitrumArbitrum(ARB)$0.31424716.07%
  • algorandAlgorand(ALGO)$0.17931811.14%
  • filecoinFilecoin(FIL)$2.299.40%
  • worldcoin-wldWorldcoin(WLD)$0.9413.19%
  • sei-networkSei(SEI)$0.27786438.93%
  • first-digital-usdFirst Digital USD(FDUSD)$1.00-0.14%
  • Jupiter Perpetuals Liquidity Provider TokenJupiter Perpetuals Liquidity Provider Token(JLP)$4.374.07%
  • Binance-Peg WETHBinance-Peg WETH(WETH)$2,420.297.57%
  • USDtbUSDtb(USDTB)$1.000.01%
  • quant-networkQuant(QNT)$98.808.72%
  • kucoin-sharesKuCoin(KCS)$11.032.00%
  • USDT0USDT0(USDT0)$1.00-0.03%
  • Binance Staked SOLBinance Staked SOL(BNSOL)$152.457.35%
  • JupiterJupiter(JUP)$0.41612019.00%
  • nexoNEXO(NEXO)$1.193.43%
  • KaiaKaia(KAIA)$0.2027377.34%
  • SPX6900SPX6900(SPX)$1.2415.69%
  • flare-networksFlare(FLR)$0.0170445.34%
  • injective-protocolInjective(INJ)$11.7119.03%
  • rocket-pool-ethRocket Pool ETH(RETH)$2,755.107.38%
  • Kelp DAO Restaked ETHKelp DAO Restaked ETH(RSETH)$2,532.467.38%
  • bonkBonk(BONK)$0.00001413.35%
  • CelestiaCelestia(TIA)$1.5912.37%
  • Virtuals ProtocolVirtuals Protocol(VIRTUAL)$1.6618.66%
  • SonicSonic(S)$0.33740620.54%
  • FartcoinFartcoin(FARTCOIN)$1.0211.86%
  • Polygon Bridged USDT (Polygon)Polygon Bridged USDT (Polygon)(USDT)$1.000.03%
  • Binance Bridged USDC (BNB Smart Chain)Binance Bridged USDC (BNB Smart Chain)(USDC)$1.000.07%
  • blockstackStacks(STX)$0.6513.91%
  • optimismOptimism(OP)$0.5511.99%
  • xdce-crowd-saleXDC Network(XDC)$0.0597545.93%
  • paypal-usdPayPal USD(PYUSD)$1.000.03%
  • Mantle Staked EtherMantle Staked Ether(METH)$2,583.917.23%
  • Solv Protocol BTCSolv Protocol BTC(SOLVBTC)$105,138.003.51%