Over the last few years, ransomware attacks have taken hundreds of millions of dollars worth of cryptocurrencies to victims worldwide. In 2020 only, as the record year for crypto-ransomware attacks, the total value of loss hit more than $400 million, showing a massive 337% increase in a year.<\/p>\n\n\n\n
However, as the fastest-growing type of cybercrime, crypto-ransomware attacks continued causing new losses this year. Data from Block Arabia<\/a> shows that victims transferred $81.6 million worth of cryptocurrencies to cybercriminals in five months of 2021, almost matching the total for the entire 2019.<\/p>\n\n\n\n Crypto ransomware attacks have become more common and increasingly costly over the past eight years. The Chainalysis 2021 Crypto Crime Report showed that in 2013, the total value of cryptocurrency received by ransomware addresses amounted to $500,000. Over the next three years, this figure soared by an enormous 3,460% to $17.8 million.<\/p>\n\n\n\n Yet, that was just the start of huge losses caused by this type of cybercrime. The following year, victims transferred $37.7 million worth of cryptos to cybercriminals. By the end of 2019, the total value of crypto-ransomware payments surged by 150% to nearly $93 million.<\/p>\n\n\n\nAverage crypto-ransomware payment on the rise<\/strong><\/h2>\n\n\n\n