Hackers run amok, but fewer corporate victims are paying up as dealmakers strive to outwit criminals: report | Latest Tech News
Corporate America is under digital siege — but the crooks aren’t cashing in like they used to, according to a new report.
Ransomware assaults are hammering firms worldwide, sparking booming demand for a new variety of fixer: cyber ransom negotiators who haggle with hackers and stall for time, the Financial Times reported. But fewer companies are really coughing up the money.
As cyberattacks pile up, corporations are scrambling to rent tech-savvy dealmakers who can outmaneuver online extortionists. These negotiators drag out talks and squeeze intel out of attackers — all while making an attempt to cut back or keep away from payouts completely.
The methods are reportedly working. Less than half of global firms hit by ransomware in 2025 ended up paying, down from 56% the yr before, according to a report from cybersecurity company Sophos.
Less than half of global firms hit by ransomware in 2025 ended up paying, down from 56% the yr before. Syda Productions – stock.adobe.com
Talks with nameless hackers are akin to a high-stakes chess match. Negotiators often pose as clueless IT staffers and slow-walk conversations. Talks can stretch from a few days to weeks, unfolding across shadowy corners of the web, encrypted emails and area of interest chat platforms, according to the FT.
The cyber crooks are often far from felony masterminds. According to the report, many are shockingly younger — sometimes youngsters — and recognized for crude language and erratic habits that could make negotiations messy and unpredictable.
“I joke that in my mind’s eye these are neck-bearded basement dwellers. But the truth is … a lot are very young teenagers or maybe in their early twenties,” Don Wyper of cyber firm DigitalMint told the FT.
British retailers Marks and Spencer and Harrods had been hit by hackers last yr. Automaker Jaguar Land Rover reportedly misplaced about $344 million.
Hackers usually demand ransoms price 1 to 2% of a company’s income — but that is often just the opening bid. Negotiators can drive it down while quietly monitoring crypto wallets and digital fingerprints.
Cyber firm DigitalMint helps thwart hacker assaults. Linkedin/DigitalMint
Many of these cyber middlemen are ex-cops or financial professionals, bringing real-world negotiation chops into the digital battlefield.
For those who do pay, the money normally flows in cryptocurrency like Bitcoin, often funneled through specialised cost brokers. But even if a deal is struck, nothing is assured and corporations must weigh legal considerations, such as whether or not paying a ransom might violate sanctions or fund felony networks.
“There is always the risk of them not adhering to the terms of the agreement and they are not bound by the same legal terms and potential for civil or regulatory penalties that a regular organization would be,” Mark Lance, of the cyber security adviser GuidePoint Security, told the FT.
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