CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Crypto Ransomware Tallied at Least $602M But Actual Figures Could Be Higher: Chainalysis

Crypto Ransomware Tallied at Least $602M But Actual Figures Could Be Higher: Chainalysis

Author: Chayanika Deka

Last Updated Feb 12, 2022 @ 05:41

2020 was touted as the “Year of Ransomware.” Little changed in 2021 as such attacks continued to target critical infrastructure, extorting bigger sums of crypto. 

Getting your audio player ready...

Chainalysis has identified more than $602 million worth of ransomware payments in 2021. But the firm is confident that the figure is still an “underestimate” and that the true total for the year is likely to be much higher.

2021 Ransomeware Payouts

A report from the blockchain analytics firm Chainalysis showed that at least $602 million worth of ransom payouts were identified in 2021. But the figures could be higher considering the fact that ransomware revenue in the first half of 2021 exceeded that of the first half of 2020. This essentially suggested that 2021 will subsequently unfold into an even bigger year for ransomware.

Operators of such attacks typically lock the data of an organization or platform with encryption and request a ransom demand. Over the past few years, they have not only intensified in terms of number but also severity.

The payment size of ransomware payment also continued to grow in 2021. The report stated that the average demand payment was more than $118,000 in 2021 compared to $88,000 in 2020 and $25,000 in 2019.

Ransomware Strains

Conti tops the list of ransomware strains in 2021, extorting $180 million from victims. Leveraging a ransomware-as-a-service (RaaS) model, the operators enabled affiliates to strike with the help of their ransomware program in exchange for a fee. While many strains remain active for a short time before going dormant, Conti was the one that stayed operational throughout last year.

Darkside followed suit, primarily for its role in the infamous attack on the oil pipeline Colonial Pipeline. The attack that made headlines last year serves as an important reminder of the large-scale damage ransomware attacks can trigger.

The US Department of Justice (DOJ) successfully tracking and seizing $2.3 million of the ransom that the American oil pipeline system paid to DarkSide, also evidenced the need to report these attacks to the law enforcement agencies despite paying the requested fee.

What was even more interesting is there were more active individual ransomware strains in 2021 than any other year. Chainlysis revealed that around 140 ransomware attacks raked in payments from victims at any point in 2021, up from 119 in 2020 and 79 in 2019.

“Those numbers are emblematic of the intense growth of ransomware we’ve seen over the last two years. Most ransomware strains come and go in waves, staying active for a short amount of time before becoming dormant.”

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Ransomware
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Chayanika Deka
More posts by this author

Chayanika has been working as a financial journalist for six years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm. Contact:Linkedin

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

11 Best Meme Coins to Watch in June 2025

11 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!