India Sees Over 50% Ransomware Activity Globally In 2024

India witnessed more than 50 per cent of ransomware activity globally in 2024, as the ransomware landscape recorded 5,414 published attacks on organisations, representing an 11 per cent increase compared to 2023, a new report said on Tuesday. 

The year began with a decline in ransomware activity during Q1, but the frequency of attacks surged in Q2 and continued to rise through the year. 

This culminated in a spike during Q4, which saw 1,827 incidents -- 33 per cent of all ransomware attacks for the year -- making it the most active quarter, according to Check Point's ransomware report.

Among the 46 new groups that were identified, RansomHub stood out as a dominant force, even surpassing the well-established LockBit in activity. 

The new entrants, such as FOG, Lynx, APT73, and Eldorado, have reshaped the threat landscape, accounting for a growing share of ransomware incidents. 

Notably, these top 10 groups were responsible for 52.8per cent of attacks, highlighting both the influence of newcomers and a decline in the dominance of legacy groups.

India recorded 44 ransomware attacks, thus, pointing to its growing vulnerability to cyberattacks while the US was the most targeted country, with 936 ransomware attacks within its borders.  

This trend can be attributed to many new groups forming from the breakup of certain veteran groups. This led to many experienced affiliates forming professional new groups leading to a spike in attacks, said security researchers at Check Point.

This year law enforcement actions targeting large ransomware operations like LockBit in February 2024, resulted in arrests, identity revelations of group leaders, and the seizure of cybercriminal infrastructure.

The crackdown on major ransomware groups led to their fragmentation, fostering increased competition among smaller ransomware gangs and enabling other threat actors to gain prominence. 

This shift is evident in the rise of 95 active ransomware groups in 2024, a 40per cent increase from the 68 groups active in 2023.