60% of cryptocurrency piracy carried out by 2 groups

According to a new report from Chainalysis, 60% of cryptocurrency hacking (over a billion dollars) was done by just two business groups.

Crypto-currencies are a centralized business

If you were already unhappy with the claims of market manipulation and centralized mining, you would not really like that. Even hackers are no longer bedroom operators driven by tweens in hoodies. They are meticulously planned and meticulously thought out for the flawless bleaching of funds.

Chainalysis reports that two leading professional groups (which they describe as alpha and beta) are together responsible for at least 60% of all hacking and trading services. 60 percent.

Forget the loan of computer scientist who enters a system during his free time. It is an organized crime, centralized.

The beta group, according to the report, is there for personal gain. However, Alpha's goals are more worrying than getting rich. The report fails to say what these goals are. But give free rein to the imagination faced with the sinister projects of these powerful: finance terrorism, traffic in human beings, destroy the Bitcoin network.

Covering their tracks

Since both groups are "professional", they make extraordinary efforts to cover their tracks and launder the money they steal. They do this primarily by moving funds across a variety of portfolios and through tactics such as dusting and cryptographic mixing.

Cryptographic dedusting is like email spam, except on the blockchain. He spams several wallets with a small amount of stained money, which damages the reputation of the recipients. Cryptographic mixing, on the other hand, modifies contaminated tokens for fresh tokens, essentially cleansing crypto through exchanges.

according to The Wall Street Journal, a hacking by Alpha was followed by 15,000 transfers extremely quickly after the theft of money, turning the crypto into cash within 30 days of its theft. Beta, meanwhile, sometimes uses HODL, its crypto volley, for more than a year, before selling it and cashing it.

Source: https://blog.chainalysis.com/reports/crypto-crime-hacks

The report could be wrong

Chainalysis admits in the report that their conclusions may be false. However, as a world-renowned research company with government contracts, bitcoin users still have a bland taste in their mouths. And raises many questions, including how the entire network is controlled after all.

If two groups are responsible for the theft of more than a billion dollars of cryptocurrencies, could they be capable of even more sinister acts, such as an attack of 51% of the network?

It is generally concluded that 51% attack on the bitcoin network is extremely unlikely because the cost will outweigh the profit. However, if the goal of the author is well beyond the money, all bets can be blocked.

Do you think that chainalysis is correct? Share your thoughts below!

Images courtesy of Shutterstock