The world's biggest ransomware target in 2021

According to a new study by Chainalysis, North America has become the biggest victim of ransomware cyber attacks in the world.

Ransomware is one of the fastest-growing forms of cryptocurrency-based crime and perhaps the most dangerous in its real-world implications. The total ransom payment, however, is $131 million in cryptocurrency for North America in the last year.

In the period between July 2020 to June 2021, most of the cryptocurrency-based attacks were connected with Russian gangs. One of them is Evil Corp cybercriminal group, which has been previously linked to the Russian government.

The explosion of ransomware cyber attacks in the span of a year has posed significant security threats.

Therefore, in July, the White House urged Russian President Vladimir Putin to do more to address ransomware attacks, warning that the US would take "necessary action" to defend itself.