2 groups responsible for 60% of all crypto exchange hacks: Report

posted 23 days ago
Two groups alone are responsible for a majority of hacks at cryptocurrency exchanges to date, new research suggests. Chainalysis, a blockchain analysis software provider, published a report on Monday indicating that two “prominent, professional” criminal groups are behind at least 60% of all publicly reported crypto exchange hacks, netting around $1 billion in total.

The firm has named the two groups as Alpha and Beta, with the former being a “giant, tightly controlled organization partly driven by nonmonetary goals… that quickly moves funds after stealing them” and the latter being a “less organized and smaller organization absolutely focused on the money…[and] is comparatively slow and waits for 6–18 months before cashing out stolen cryptos.”
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