{"id":24950,"date":"2019-02-04T15:20:08","date_gmt":"2019-02-04T15:20:08","guid":{"rendered":"https:\/\/packetstormsecurity.com\/news\/view\/29786\/Two-Hacker-Groups-Responsible-For-60-Percent-Of-All-Publicly-Reported-Attacks.html"},"modified":"2019-02-04T15:20:08","modified_gmt":"2019-02-04T15:20:08","slug":"two-hacker-groups-responsible-for-60-percent-of-all-publicly-reported-attacks","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/two-hacker-groups-responsible-for-60-percent-of-all-publicly-reported-attacks\/","title":{"rendered":"Two Hacker Groups Responsible For 60 Percent Of All Publicly Reported Attacks"},"content":{"rendered":"

Two hacker groups are behind 60% of all publicly reported cryptocurrency exchange hacks and are believed to have stolen around $1 billion worth of cryptocurrency, according to a report published last week by blockchain analysis firm Chainalysis.<\/p>\n

\n

More security news<\/span><\/h3>\n<\/div>\n

“On average, the hacks we traced from the two prominent hacking groups stole $90 million per hack,” said Chainalysis.<\/p>\n

The company has been tracking these two groups for years. It’s currently tracking the biggest group under the codename of Alpha, and the second, smaller group, as Beta.<\/p>\n

Experts say Alpha “is a giant, tightly controlled organization at least partly driven by non-monetary goals.”<\/p>\n

Beta, on the other hand, is a “less organized and smaller organization absolutely focused on the money.”<\/p>\n

Chainalysis says that once the two groups breach exchange portals and steal funds, they move the stolen currency through a complex network of wallets and exchanges in an attempt to disguise their origin. On average, the company says the two hacker groups move funds at least 5,000 times.<\/p>\n

The hackers then wait for a while until things quiet down, and then they proceed to cash the stolen funds by converting them to fiat (real-world) currency. The average cooldown period is around 40 or more days, Chainalysis said.<\/p>\n

\n<\/section>\n

“Once they feel safe, they move quickly,” experts said. “At least 50% of the hacked funds are cashed out through some conversion service within 112 days, and 75% of the hacked funds have been cashed out within 168 days.”<\/p>\n

Of the two, Alpha is the one who puts more effort into hiding the funds through a storm of blockchain transactions, and also the quickest of the groups to cash out funds.<\/p>\n

According to Chainalysis, Alpha sometimes disguises hacks behind 15,000 transactions and usually cashes out up to 75% of the stolen funds within 30 days.<\/p>\n

Beta does far less to obscure the source of its assets and usually sits on funds for 6 to 18 months before they cash out.<\/p>\n

\"Chainalysis:<\/span> Image: Chainalysis<\/span><\/p>\n

The full Chainalysis report is available here<\/a>, along with information on a recent wave of Ethereum scams and an analysis of the resilience of some Dark Web marketplaces.<\/p>\n

Chainalysis is a company famous for its blockchain investigations. Back in 2017, Chainalysis experts worked with Google to track down ransomware Bitcoin payments. The two companies discovered that 95% of all ransomware payments<\/a> made since the start of 2014 were converted into fiat currency via the BTC-e exchange portal.<\/p>\n

Their investigation led to the arrest of the BTC-e owner<\/a>, Alexander “Mr. Bitcoin” Vinnik, whose extradition the US recently lost to Russia<\/a>.<\/p>\n

Another report<\/a> released last week by rival blockchain analysis firm CipherTrace also revealed that hacker groups stole roughly $1.7 billion worth of cryptocurrency during 2018 alone.<\/p>\n

Related stories:<\/h3>\n

READ MORE HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

READ MORE HERE…<\/p>\n","protected":false},"author":2,"featured_media":24951,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[277],"tags":[1683],"class_list":["post-24950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cybersecurity-blogs","tag-headlinehackercybercrimefraud"],"yoast_head":"\nTwo Hacker Groups Responsible For 60 Percent Of All Publicly Reported Attacks 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security & Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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