By Marcos Colón

January 4, 2016

The wave of ransomware attacks that plagued organizations across sectors in 2016 resulted in roughly $1 billion in profit for cyber swindlers.

An unnamed security expert who spoke with CSO Online shed light on the figures that were being filtered into ransomware-related Bitcoin wallets.

Three bitcoin wallets tied to the Locky ransomware processed roughly $50 million, with a fourth bringing in $70 million. Other big earners included Cryptowall ($100 million) and Cerber ($54 million). During the first three months of 2016 alone, the FBI reported $209 million ransomware payments made.

As cybercriminals evolve their tactics in hiding their Bitcoin wallet transactions, tracking the funds is becoming more difficult. Although many in the industry are predicting that enhancements in cybersecurity will curb ransomware attacks this year, other experts believe they’ll only get worse.