The Cold Reality of Ransomware Attacks: More Than Just a Ransom Payment
Ransomware attacks continue to evolve, becoming more sophisticated and harder to prevent—even for well-prepared organizations. A 2024 study of 215 enterprises that experienced ransomware attacks between 2021 and 2023 revealed key takeaways that every IT leader should know.
Ransomware Finds a Way In—Even Through Strong Defenses
Phishing remains one of the most effective entry points for ransomware, accounting for 31% of attacks. Even organizations that conducted anti-phishing training found themselves compromised. Additionally, relying on perimeter defenses or cloud storage is not enough—ransomware still finds its way in.
When Attackers Strike, They Move Fast
Once inside, ransomware spreads quickly. Over 56% of victims reported that cybercriminals took control and demanded ransom within just 12 hours. This speed means organizations have little time to react, leading to severe operational disruptions, financial loss, and reputational damage. For some, downtime lasted weeks—crippling business operations.
Paying the Ransom Doesn’t Guarantee Recovery
While 38% of victims chose to pay, nearly half of them did not get all their data back. The total financial impact goes beyond just the ransom itself, with average recovery costs soaring past $684,000. Even organizations with cyber insurance saw only partial coverage, with many experiencing premium hikes of 25% or more post-attack.
The Best Defense: A Recovery-First Strategy
Given these harsh realities, the most effective way to protect against ransomware isn’t just prevention—it’s ensuring you can recover quickly without paying a ransom. Data immutability provides a critical safety net, ensuring you always have a secure, unalterable backup ready for rapid restoration.
Read the full Ransomware Victim’s Survey here.
