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White House holds counter-ransomware event with 30 countries as payments spike
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The White House held a virtual event this week to combat ransomware, as global economic losses mount. Russia and North Korea were conspicuously absent from the meeting.
The "counter-ransomware" event – with 30 countries participating – addressed the financial systems that make the booming ransomware business profitable, how to disrupt the ransomware ecosystem and ongoing diplomatic efforts.
Ransomware payments reached over $400 million globally in 2020, and topped $81 million in the first quarter of 2021, the White House said, underscoring how alarmingly profitable ransomware has become.
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