A new report from the ThreatDown Intelligence team reveals a record-breaking 4,582 known ransomware attacks from July 2023 to June 2024, surpassing the previous high of 3,434 attacks recorded from July 2022 to June 2023.

The 2024 State of Ransomware Report examines key trends in ransomware over the past year, highlighting how the decline of former leaders like LockBit and ALPHV has reshaped the ransomware landscape, paving the way for emerging threats such as PLAY, 8Base, and Akira.

The report details the significant events of February 2024, including the takedown of LockBit’s infrastructure and ALPHV’s exit scam. These actions involved law enforcement seizing LockBit’s resources, gathering critical intelligence, and arresting several members.

Other key findings include a 63% increase in ransomware attacks in the USA and a 67% rise in the UK. Industry-wise, the services sector remains the most targeted, with manufacturing seeing a notable 71% increase in attacks.

In the USA, healthcare and education are the hardest hit after services, accounting for 60% and 71% of global attacks in these sectors, respectively.

The report also outlines the top three trends in ransomware tactics over the past year, such as a spike in attacks during weekends and early morning hours, and a drastic reduction in the time from initial access to encryption—now happening in hours rather than weeks.

To learn more about how ransomware tactics have changed, and what you can do about it, download the 2024 State of Ransomware Report today.