Connect with us
DAPA Banner

Crypto World

Ransomware Payments Topped $800 Million in 2025: Chainalysis

Published

on

Annual ransomware losses. Source: Chainalysis

Although hackers made less money overall last year, victims who paid faced far higher bills than a year earlier.

Ransomware crypto payments stalled for a second year in 2025, even as attacks hit record levels and ransom demands jumped. Data from Chainalysis shows that total on-chain payments fell about 8% from a year earlier to roughly $820 million, while claimed attacks rose by about 50%.

Annual ransomware losses. Source: Chainalysis
Annual ransomware losses. Source: Chainalysis

The biggest shift was in how much victims paid when they did give in. The median ransom payment surged 368% year-over-year to nearly $60,000 from about $12,700 in 2024.

Jackie Koven, head of cyber threat intelligence at Chainalysis, told The Defiant that the surge in median payment is “likely not related to price,” adding that ransomware actors “anchor their extortion demands in USD or other fiat currencies, not BTC.”

“So if they are demanding $1M, as an example, it doesn’t matter whether BTC is priced at 1M or 10k. The increase in median ransom is more likely related to high outlier payments rather than a return to big-game hunting ransomware tactics that dominated in the past,” Koven explained.

Advertisement
Ransomware instruction and conversion rates. Source: Chainalysis
Ransomware instruction and conversion rates. Source: Chainalysis

Only 28% of victims paid a ransom in 2025, the lowest rate on record.

“This overall trend is a major win against the ransomware ecosystem. Fewer victim payments mean more work for less for attackers, an important step in shifting the economic incentives,” the report reads.

There were still several high-impact incidents that shaped the year. A cyberattack on Jaguar Land Rover in late August 2025 halted production across multiple countries and caused an estimated $2.5 billion in damage, the costliest cyber incident in UK history.

Retailers and hospitals were also hit hard. Major British multinational retailer Marks & Spencer suffered long outages after an attack tied to the Scattered Spider group, while global healthcare provider DaVita reported exposure of nearly 2.7 million patient records.

The U.S. stayed the top target worldwide, with Canada, Germany, and the UK behind it, and attacks rose sharply in manufacturing, finance, supply chains, and critical infrastructure, Chainalysis says.

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Bitcoin Community Weighs Reports of Hormuz Oil Tanker Fees Payable in BTC

Published

on

Dollar, Iran, Stablecoin, Bitcoin Adoption

The Bitcoin (BTC) community is discussing the feasibility and implications of the Iranian government accepting BTC for tolls paid by oil tankers crossing the Strait of Hormuz, a critical shipping lane through which about 20% of the global oil supply passes. 

The reactions were sparked by a Financial Times report, published on Wednesday, which said that the Iranian government was considering BTC payments for oil tolls to avoid sanctions imposed by the United States.

Several conflicting reports have been published since the Financial Times article, which suggest that the tolls are payable in stablecoins or Chinese yuan, according to Alex Thorn, the head of firmwide research at crypto investment firm Galaxy. 

Dollar, Iran, Stablecoin, Bitcoin Adoption
A map of the Strait of Hormuz. Source: Encyclopedia Britannica

BTC advocate Justin Bechler said that stablecoins can be frozen by the issuer and cited the compliance controls introduced in the GENIUS stablecoin regulatory framework as reasons why the Iranian government would not collect tolls in US-dollar stablecoins. He said:

“USDT and USDC include built-in blacklist functions at the smart contract level. When an address is flagged, the issuer can freeze the tokens, rendering them completely illiquid. The law’s enforcement depends entirely on the compliance of issuers.

Bitcoin has no issuer, no compliance officer to pressure, and no freeze function. Iran’s pivot toward Bitcoin follows directly from this structural reality,” he added. 

Advertisement

If the Iranian government begins accepting BTC for oil tanker payments, it would boost Bitcoin’s credibility as a neutral settlement layer for international transactions, advocates say.

Dollar, Iran, Stablecoin, Bitcoin Adoption
Source: Jack Mallers

Related: Crypto Biz: Will Bitcoin secure safe passage through the Hormuz Strait?

Iran would likely use QR codes to collect BTC payments

Thorn estimated that each oil tanker would need to pay between $200,000 and $2 million in tolls to pass through the Strait of Hormuz.

The initial reporting from the Financial Times cited a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, who said that ships would have a “few seconds” to complete payment in BTC.

This suggests that ships would pay via the Lightning Network, a layer-2 payment solution for BTC that allows parties to send transactions in seconds, rather than waiting for the 10-minute block confirmation.

Advertisement

However, the largest known transaction over the Lightning network to date has been for $1 million, Thorn said. 

“More likely, the Iranian authorities would provide a QR code or alphanumeric Bitcoin address to the ships upon approval of their requests to pass through the Strait,” he added.

Magazine: Bitcoin may take 7 years to upgrade to post-quantum: BIP-360 co-author