Why Are Ransomware Profits Dipping?

In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity and privacy issues, including why it pays off to have well-practiced incident response plans, whether Chat GPT is a blessing or a curse for penetration testers and bug bounty hunters, and how Microsoft has reason to be cheerful as security sales hit $20 billion.

See Also: Live Webinar | Navigating the Difficulties of Patching OT

The panelists – Anna Delaney, director, productions; Tony Morbin, executive news editor, EU; Michael Novinson, managing editor of business; and Mathew Schwartz, executive editor of DataBreachToday and Europe – discuss:

• Research from blockchain intelligence firm Chainalysis and ransomware incident response firm Coveware on the latest ransomware trends, including how the total amount of ransom payments sent by victims to ransomware groups appears to have taken a big dip last year;
• How ChatGPT technology can be used to automate various cybersecurity tasks, saving time and effort for penetration testers and bug bounty hunters;
• How Microsoft, the world’s largest cybersecurity vendor, continues to pull away from the competition as its security revenue is up 33% since 2021 and 100% since 2020.

The ISMG Editors’ Panel runs weekly. Don’t miss our previous installments, including the Jan. 13 edition, which discusses the impact of the fragmented Russian darknet market, and the Jan. 20 edition, which discusses why ransomware group LockBit is so prolific.