An estimated $1 billion in crypto heists have been attributed to two groups according to Chainalysis, a blockchain analytics firm.
Group one, referred to as Alpha, is seen as being a “giant, tightly controlled organization at least partly driven by non-monetary goals.” Group two, Beta, appears to be “less organized and smaller, absolutely focused on money.” Beta also appears to be less concerned about detection and has cashed out large sums, up to $32MM USD in one go. Both groups use extensive networks of wallets, on average 5,000 but Alpha has used up to 15,000 to hide the funds before they make the transfer into fiat. Alpha typically gets started on the liquidation before Beta who tends to sit on the stolen assets until the publicity fades.
Comprising approximately 60% of all reported cryptocurrency hacks, the two groups average $90MM USD per hack according to Chainalysis. They generally have a quiet period of just over 40 days and then cash out at least 50% of the stolen crypto within 112 days.
Chainalysis believes the groups to still be active.