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Every Minute, $2.9 Million is Lost to Cybercrime

1 minute read
Cybercriminals cost the global economy $2.9 million every minute last year, a total of $1.5 trillion, according to RiskIQ.

Top companies pay $25 per minute due to security breaches. Additional malicious activity includes:

  • $1,930: the cost of hacks on cryptocurrency exchanges every minute
  • $17,700: lost from phishing attacks per minute
  • $22,184: the projected by-the-minute cost of global ransomware events in 2019
  • 8,100: identifier records compromised every minute
  • 7: malicious redirectors detected each minute
  • 2.4: phish traversing the internet per minute
  • 0.32: blacklisted apps by-the-minute
  • 0.21: Magecart attacks detected every minute

Tactics range from malvertising to phishing to supply chain attacks that target e-commerce, like the Magecart hacks that have increased by 20% in the last year. The motives of cybercriminals include monetary gain, large-scale reputational damage, political motivations, and espionage.

Read more: Help Net Security

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