Aha you are right, Watchtower says the ransom is paid to God. I don’t know how I missed that all these years.
https://wol.jw.org/en/wol/d/r1/lp-e/1991123
17 To whom, though, would that ransom be paid? For centuries Christendom’s theologians argued that it was paid to Satan the Devil. The fact is that mankind has been “sold under” sin and thus has come under the control of Satan. (Romans 7:14; 1 John 5:19) Still, Jehovah, not Satan, “exacts punishment” for wrongdoing. (1 Thessalonians 4:6) Therefore, as Psalm 49:7 explicitly states, the ransom is to be paid “to God.” Jehovah makes the ransom available, but after the Lamb of God has been sacrificed, the value of his ransom must be paid to God. (Compare Genesis 22:7, 8, 11-13; Hebrews 11:17.) This does not reduce the ransom to a pointless, mechanical exchange, as if money were taken out of one pocket and put in another. The ransom involves not so much a physical exchange as a legal transaction. By insisting that a ransom be paid—even at great cost to himself—Jehovah affirmed his unwavering adherence to righteous principles.—James 1:17.