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Hacking exchanges

Exchange hacks predominate over other crimes in the field of cryptocurrencies, and as Chainalysis researchers have established, two professional hacker groups dominate here. Only these two organizations, conventionally called “Alpha” and “Beta”, account for about 60% of the total number of hacker attacks committed during the entire existence of the crypto industry. As a result of malicious actions, these groups managed to get about $1 billion.

On average, as a result of their hacks, Alpha and Beta stole $90 million, while they use complex schemes involving numerous wallets and exchanges to withdraw funds to fiat. According to the researchers, on average, stolen funds were moved at least 5,000 times before being converted into fiat.

It was also found that these two groups adhere to different tactics

“Alpha”, presumably, conducts transactions with “mined” assets almost immediately, while “Beta” is in no hurry with these — the movement of cryptocurrencies is postponed for an average of 18 months until the dust settles and the public remembers the attack less often.