Bitcoin Price Could Hit $15,000 This Year

Christopher Matta, Goldman Sachs

According to my estimates, the recent tx spam on the ETH network cost up to ~$15m USD

Vitalik Buterin
BTC $
68,03
ETH $
68,03
4.02.19
Articles

Chainalysis: 60% Of Attacks Are Made By Two Groups Of Hackers

This week, analytical firm Chainalysis published a report claiming that most of registered attacks on crypto currency exchanges are made by just two well-known groups of professional hackers. According to the report called Crypto Crime Report, the scammers earned $1 billion due to hacker attacks.
Hacking shades all the other forms of crypto graphic crimes. There are two main groups of professional hackers in this area – they are responsible for stealing almost $1 billion – this are 60% of publicly registered hacker attacks.
Crypto currency exchanges and crypto wallet operators have been attractive for cyber criminals. MyBitcoin and Bitconica were hacked during the first days of existence of Bitcoin. Then, sadly remembered collapse of Mt. Gox exchange came. Several weeks ago, Cryptopia exchange was hacked. Hacks and thefts are an old problem of the entire crypto currency industry.
Chainalysis supposes that all these attacks are made by the same people. The analysts monitored the money stolen from the exchange to withdrawal point where crypto currency was converted into fiat. The company specialists believe that they managed to reveal two groups of hackers which the analysts call Alpha and Beta. Together, they would be responsible for 60% of all the attacks. In general, the criminals earned $90 million for each successful attack.
According to the report, the criminals made every effort to shuffle the tokens trying to conceal the sources. In general, they managed to do it due to a huge number of transactions, due to transferring money from a wallet to a wallet. In general, the hackers make about 5000 transactions before they withdraw it. It is noteworthy that the hackers did nothing during the shuffle process, waiting until the level of interest to them drops.
Alpha and Beta shuffled money using completely different strategies. Chainalysis believes that the goals of the groups might be determined due to their actions. The company supposes that Alpha is a giant, almost militarized organization which pursues not only money objections. It looks like they are eager to create chaos to maximize the profit. Alpha covers its tracks up in a much more sophisticated way. It means that the organization does not want to be revealed.
Meanwhile, Beta seems to be less organized and experienced in terms of covering tracks up, it’s more focused on the money itself. The group does not afraid to be revealed. Its main goal is to steal money and to find a way to launder it. Once, they managed to launder $32 million at a time.
Both organizations successfully cash cryptocurrency out. Half of the funds it converted less than on four months, about ¾ of funds were converted during six months. It was mostly done with the help of exchanges which could not monitor the source of the funds.
The report does not specify analyzed attacks and does not provide any other information allowing to identify Alpha and Beta.