$1 Billion in Crypto Stolen by Just 2 Groups: How Do They Cash Out?

A report from Chainalysis, a blockchain analytics firm based in the U.S. and Denmark, has revealed that just two groups have stolen more than $1 billion worth of crypto in the past several years.

Based on the transactions and addresses traced by the firm, the hackers obtained around $90 million per hack on average, running a lucrative criminal operation spanning out many major crypto markets.

Blockchain analytics companies like Chainalysis work with major cryptocurrency exchanges to stop suspicious transactions from entering the system of trading platforms.

Binance, for instance, the world’s largest crypto exchange by volume, partnered with Chainalysis in October 2018 to tackle money laundering.

Reference: https://www.ccn.com/1-billion-in-crypto-stolen-by-just-2-groups-how-do-they-cash-out/

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