GRF Ransomware Report (first half of year 2024)

Analysts compiled data on 1,690 successful attacks in the GRF report. The most targeted industry for H1 remained the Critical Manufacturing Sector with over 280 incidents.

• Manufacturing was the most targeted industry with 280 victims. The next most targeted sector was Commercial Facilities with 215.
• LockBit was the most prolific actor with 340 successful attacks.
• The United States was targeted by 64% of all ransomware attacks tracked by GRF analysts, with 14% directed at companies within the EU, followed by 7% targeting the UK.
• Re-extortion has emerged as a complication for both victims and the ransomware-as-a-service business model itself.

The top targeted sectors saw considerable overlap with the last Semiannual Ransomware Report, H2 2023. Critical Manufacturing and Commercial Facilities retained the top two spots, though the gap between them shrunk. Healthcare overtook IT, though both remained in the top five, and the Other category bumped Financial Services out of the top five, with it also being overtaken by Professional Services. GRF analysts believe this relative consistency in targeted sectors is due to the success that threat actors are having when attacking these industries. In particular, the top sectors like manufacturing and commercial facilities rely on being physically operational to make a profit, making these sectors a lucrative target for disruption and ransom. GRF predicts that we will see a similar attack pattern going into the second half of 2024 unless a new threat actor emerges to heavily target a new sector.

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