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Ransomware Payout Doesn't Pay Off

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Ransomware Payout Doesn't Pay Off About 40% of small- and midsized businesses hit with ransomware paid their attackers, but less than half got their information back.

Ransomware, ironically, is a crime based on trust. Victims pay attackers who compromise their data with an expectation it will be returned to them.

Unfortunately, a growing number of ransomware targets pay thousands of dollars to get their data back, but receive nothing. This was the most surprising result to come from a Bitdefender survey of 250 IT pros working in small and medium businesses (SMBs), says senior threat analyst Bogdan Botezatu.

The survey, conducted by Spiceworks, discovered one in five SMBs was hit with a ransomware attack within the past 12 months. Of the 20% targeted, 38% paid attackers an average of $2,423 to release their data. Less than half (45%) got their information back.

"Until now, ransomware was a business where honesty was key," Botezatu explains. "Everyone paid the ransom...(continued)

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