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.
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.
"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."
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.
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.
"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."
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.
