Majority of All Crypto Hacks Carried Out by Two Groups
Main page News, Hacker Attack, Cryptocurrency Exchanges, Cryptocurrency
Hot topic
29 January
40 40

A new research carried out by Chainalysis suggests that two groups alone have been responsible for more than half of all hack attacks to cryptocurrency exchanges until today: they have been behind at least 60 percent of all reported crypto exchange hacks.

We are talking about the movement of $1 billion in total.

“On average, the hacks we traced from the two prominent hacking groups stole $90 million per hack. The hackers typically move stolen funds through a complex array of wallets and exchanges in an attempt to disguise the funds’ criminal origins,” — Shared the report.

Chainalysis named both groups “Alpha” and “Beta” and considered the first one a “giant, tightly controlled organization partly driven by non-monetary goals,” and the second one a “less organized and smaller organization absolutely focused on the money.”

According to the company the two entities are most probably still active — and the crypto crime trend will endure.

Bitcoin Transactions on the Darknet Doubled in 2018

The report shared that “darknet market activity nearly doubled” last year, while the crypto market faced a prolonged bear trend and Bitcoin, the largest cryptocurrency worldwide in terms of market capitalization, lost about 80 percent of its value.

“Cryptocurrency crime is evolving to become part of traditional crime, and we think this trend will continue in 2019, [...]” — Chainalysis shared.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news

Read also:
Please describe the error
Close