The use of malicious ransomware attacks to encrypt and block access to infected computer systems until a ransom—usually in Bitcoin—is paid, grew significantly during the pandemic. An estimated 304.6 million such attacks were reported globally in 2020, up 62% year-over-year.

Industries such as financial services, manufacturing, energy, government, and healthcare were among the most affected. Collectively, the total amount paid by victims in 2020 totaled nearly USD 350 million—up  311% year-over-year—with the economic cost stemming from these attacks estimated at USD 20 billion.