A new report from UK-based cybersecurity firm Sophos reveals that 53% of Indian organizations affected by ransomware in 2024 paid cybercriminals to regain access to their encrypted data. While ransom payments dropped significantly—median payouts fell by 79% to Rs. 4 crore (USD 481,636)—the broader financial impact of these attacks remains severe. Companies continue to bear substantial recovery costs, averaging over Rs. 8.4 crore (USD 1.01 million) excluding ransom payments.