Ransomware market on the dark web hits $6.2M: 4 report insights

The sale of ransomware on the dark web grew more than 2,500 percent between 2016 and 2017, according to a Carbon Black report.

For the report, Carbon Black investigated the 'dark web' economies where ransomware is created, bought and sold. The underground ransomware market is of growing importance. In 2016, ransom payments totaled roughly $1 billion, up from $24 million in 2015, according to data from the FBI cited in the report.

Here are four findings from the report.

1. The ransomware market on the dark web grew from $249,287 in 2016 to $6.24 million thus far in 2017, a growth rate of 2,502 percent.

2. Ransomware retailers make more than $100,000 each year selling the malicious software. A typical software developer, by comparison, makes roughly $69,000 per year, according to PayScale.com.

3. The price for a do-it-yourself ransomware kit ranges from 50 cents to $3,000. The median price for a kit is $10.50.

4. There are an estimated 6,300-plus dark web marketplaces selling ransomware today, comprising roughly 45,000 product listings.

To access the full report, click here.

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