In this study, we present a 532-day longitudinal analysis of LockBit 3.0’s leak site. We track 1,856 victims across multiple states-countdown, data publication, deletion, and relisting-and reconstruct a structured, three-stage extortion lifecycle: (1) pre-listing negotiation, (2) countdown negotiation, and (3) post-leak monetization. We find that $8.5 \%$ of countdownstate victims are deleted before their data is published, suggesting private settlements. In the post-leak phase, victims with price tags exhibit significantly more variable deletion timing compared to those without, despite sharing the same median exposure. This indicates that LockBit actively manages some listings after data publication, potentially extending monetization or negotiation efforts.We also measure the operational impact of law enforcement actions-including Operation Cronos and affiliate arrests-on LockBit’s infrastructure and victim activity. While the group rapidly restored services after takedowns, we observe a sustained decline in new victim onboarding, reduced infrastructure redundancy, and delayed payment behavior, suggesting long-term weakening.To our knowledge, this is the first empirical study to model a ransomware extortion lifecycle based on continuous monitoring of leak site behavior. Our findings provide actionable insights into ransomware monetization tactics, negotiation patterns, and post-takedown adaptation.