India recorded a 55% increase in ransomware incidents, with 98 attacks documented in 2024. The most incidents occurred in May and October. These figures come from the Ransomware Trends 2024: Insights for Global Cybersecurity Readiness report by CyberPeace, a cybersecurity-focused non-profit. The report outlines key trends and calls for improved cybersecurity to counter growing threats.

The research involved Open-Source Intelligence (OSINT) techniques, monitoring 166 threat actor groups, and gathering data from 658 global servers and underground sources. Findings show ransomware groups making 5,233 claims across 153 countries using these resources. The United States was the most targeted, followed by Canada, the UK, and Germany.

KillSec ranked as the most active ransomware group, with LockBit3 in second place. Groups like RansomHub, DarkVault, and Clop showed moderate activity.

Major Vineet Kumar, global president and founder of CyberPeace, noted that ransomware continues to evolve and remains a significant risk for industries, governments, and individuals. He suggested collective efforts from governments, organisations, and cybersecurity experts to share intelligence, strengthen cross-border defences, and address emerging threats. “Collaboration is key to dismantling threat actor networks, mitigating risks, and fostering a secure digital ecosystem worldwide,” he said.

Most affected sectors in India

In India, the industrial sector was the most targeted, making up 75% of incidents. The healthcare sector followed at 12%, while the finance sector accounted for 10%. The government sector experienced 3% of incidents, the lowest among sectors. These figures highlight the need to strengthen defences in the industrial sector and address vulnerabilities in healthcare, finance, and government domains.

Data trends in the report show fluctuations in ransomware activity, with peaks in May (14 incidents) and October (24 incidents). These spikes suggest seasonal variations in ransomware operations.

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Addressing ransomware threats

CyberPeace recommends proactive measures to combat ransomware. These include strong data backup and recovery systems, employee awareness programs to reduce errors, and multi-factor authentication to secure access. Regular vulnerability assessments and advanced threat detection tools are essential for identifying and addressing weaknesses early.

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