{"id":102959,"date":"2023-10-03T09:10:00","date_gmt":"2023-10-03T16:10:00","guid":{"rendered":"https:\/\/www.backblaze.com\/blog\/?p=102959"},"modified":"2025-12-11T14:30:09","modified_gmt":"2025-12-11T22:30:09","slug":"the-true-cost-of-ransomware","status":"publish","type":"post","link":"https:\/\/www.backblaze.com\/blog\/the-true-cost-of-ransomware\/","title":{"rendered":"The True Cost of Ransomware"},"content":{"rendered":"
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Editor’s Note<\/h4>\r\n

This article has been updated since it was originally published in 2021.<\/p>\r\n<\/div>\r\n\r\n\r\n\r\n

When we first published this article, a $70 million<\/a> ransom demand was unprecedented. Today, demands have reached as high as $240 million<\/a>, a sum that the Hive ransomware group opened negotiations with in an attack on MediaMarkt, Europe\u2019s largest consumer electronics retailer.\u00a0<\/p>\r\n\r\n\r\n\r\n

But then, as now, the ransoms themselves are just a portion, and often a small portion, of the overall cost of ransomware. Ransomware attacks are crimes of opportunity, and there\u2019s a lot more opportunity in the mid-market, where the odd $1 million demand doesn\u2019t make headlines and the victims are less likely to be adequately prepared to recover. And, the cost of those recoveries is what we\u2019ll get into today.<\/p>\r\n\r\n\r\n\r\n

In this post, we\u2019re breaking down the true cost of ransomware and the drivers of those costs. \u00a0<\/p>\r\n\r\n\r\n\r\n

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Read More About Ransomware<\/h4>\r\n

This post is a part of our ongoing series on ransomware. Take a look at our other posts for more information on how businesses can defend themselves against a ransomware attack, important industry trends, and more.<\/p>\r\n\"Read<\/a><\/span>