New research by Chainalysis indicates that two hacker groups, dubbed Alpha and Beta, are behind a significant majority (60%) of all reported hacks of cryptocurrency exchanges. The total amount of cryptocurrency stolen by Alpha and Beta is worth about $1 billion.
Chainalysis describes Alpha as “a giant, tightly controlled organization at least partly driven by non-monetary goals,” while Beta is a “less organized and smaller organization absolutely focused on the money.” The two groups have managed to steal around $90 million per hack on average. After each attack, the hackers attempt to launder the stolen funds by transferring it no less than 5,000 times between numerous wallets and exchanges.
Read more: Two hacker groups responsible for 60 percent of all publicly reported hacks
