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Ransomware attacks have increased 350% since 2018, according to cybersecurity firm Purplesec. The global cost of these attacks grew from $8 billion in 2018, to $20 billion in 2020. The average ransom demanded by hackers exceeded $8,000 in 2020, up from $4,300 in 2018. However, Purplesec's report notes that the greater cost to businesses is in time lost while they secure remaining files and networks, and try to recover lost work.
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