Hacker still holds $14 billion in stolen Bitcoin from massive 2020 LuBian attack: Arkham
The post Hacker still holds $14 billion in stolen Bitcoin from massive 2020 LuBian attack: Arkham appeared on BitcoinEthereumNews.com.
Key Takeaways A hacker stole 127,426 Bitcoin from Chinese mining pool LuBian in December 2020, now valued at over $14.5 billion. Lubian abruptly stopped operations without an explanation two months after the hack. A massive theft of 127,426 Bitcoin (BTC) from the secretive Chinese mining pool LuBian in 2020, which was uncovered today, has sparked concerns in the crypto community as the hacker still holds the entire stash more than four years after the incident. The stolen BTC stash, worth $3.5 billion at the time, is now valued at over $14 billion, according to a new report from Arkham Intelligence. It appears that LuBian was using an algorithm to generate its private keys that was susceptible to brute-force attacks. This may have been the vulnerability exploited by the hackers. LuBian preserved 11,886 BTC, currently worth $1.35B, which they still hold. The hacker also… pic.twitter.com/ADWPgLLio1 — Arkham (@arkham) August 2, 2025 It is not only the biggest crypto heist in history but also one of the longest-concealed cases. LuBian, which controlled nearly 6% of Bitcoin’s network hash rate in May 2020, has never publicly disclosed the breach. Inside the largest crypto heist As traced by Arkham, the hack occurred on December 28, 2020, with more than 90% of LuBian’s BTC holdings being drained. Arkham suggests that LuBian used an insecure algorithm to generate private keys, which made them vulnerable to brute-force attacks. The day after the attack, a LuBian-linked address lost an additional $6 million in Bitcoin and USDT on the Bitcoin Omni layer. On December 31, LuBian moved its remaining 11,886 Bitcoin, currently worth about $1.3 billion, to recovery wallets. After the hack, the firm broadcast messages across 1,516 Bitcoin transactions requesting the return of stolen funds, spending 1.4 Bitcoin in the process. The hacker’s stash of 127,426 BTC remains…
Filed under: News - @ August 3, 2025 2:12 am