In its Mid-Year Cyberthreat Report published on August 24, 2022, cybersecurity firm Acronis reports that ransomware continues to plague businesses and governmental agencies, primarily through phishing campaigns.

According to the report over 600 malicious email campaigns were launched in the first half of 2022, with the goal of stealing credentials to launch ransomware attacks. Other attack vectors included vulnerabilities to cloud-based networks, targeting unpatched or software vulnerabilities, and cryptocurrency and decentralized finance systems.

According to Acronis, “ransomware is worsening, even more so than we predicted.” It estimates that global damages related to ransomware attacks will top $30 billion by 2023.