$BTC In its 2025 Cryptocurrency Crime Report, blockchain analytics firm Chainalysis revealed a sharp 35% drop in ransomware payments to $813 million in 2024, compared to $1.25 billion the previous year.
Despite an initial increase in the value of funds stolen by cybercriminals in the first half of 2024, the second half saw a significant drop in payments, resulting in an overall decline.
The drop in ransom payments is partly due to measures taken against cryptocurrency exchanges that cybercriminals use to launder money. Sanctions on Russian exchange Cryptex and the seizure by the German Federal Criminal Police of 47 Russian cryptocurrency exchanges that did not implement Know Your Customer (KYC) procedures have hampered ransomware groups’ ability to convert their cryptocurrencies into fiat currencies.
