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Bitcoin heist of $3.5 billion uncovered by Arkham

Arkham Intelligence reveals the largest crypto hack in history, affecting LuBian mining pool.

August 2, 2025 at 10:16 PM

$3.5B Bitcoin heist from 2020 retroactively uncovered — Arkham Intel

Arkham Intelligence has identified the largest cryptocurrency hack, revealing significant vulnerabilities.

Major Bitcoin heist of $3.5 billion revealed by Arkham Intelligence

Arkham Intelligence announced the discovery of a $3.5 billion Bitcoin heist from December 2020. The breach involved the LuBian mining pool, which lost 127,426 Bitcoin due to a cyberattack that went unreported at the time. Approximately 90% of the pool's funds were taken by hackers before LuBian managed to transfer some remaining assets to recovery wallets. The misuse of a vulnerable algorithm for generating private keys may have allowed the attackers to exploit the system.

Key Takeaways

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Arkham Intelligence reveals a $3.5 billion Bitcoin hack from 2020.

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LuBian mining pool lost 90% of its BTC to hackers.

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The attack was initially unreported, raising concerns about transparency.

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Vulnerabilities in key generation algorithms were exploited.

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Current value of stolen Bitcoin is now $14.5 billion.

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Security practices need urgent improvement in the crypto space.

"It appears that LuBian was using an algorithm to generate its private keys that was susceptible to brute-force attacks."

This quote highlights the critical flaw that led to the massive hack, emphasizing the need for improved security measures.

"The attack highlights the need for crypto users to practice proactive safety measures and private key management."

This statement stresses the importance of security awareness in the cryptocurrency community.

The revelation of this massive heist underlines the ongoing risks associated with cryptocurrency security. As the value of the stolen Bitcoin has surged to $14.5 billion today, it raises awareness about potential vulnerabilities in the blockchain and the need for more effective security practices among crypto users. Such incidents not only damage individual investors but also impact the overall confidence in cryptocurrency markets, potentially inviting stricter regulations.

Highlights

A $3.5 billion heist reveals the fragility of crypto security.
Unseen vulnerabilities can lead to monumental losses in crypto.
The price of stolen Bitcoin has skyrocketed to $14.5 billion.
This attack underscores the urgent need for better key management.

Risks associated with the Bitcoin hack

The revelation of the $3.5 billion hack raises significant concerns around cryptocurrency security and public trust. Without stronger safeguards, the potential for more high-profile breaches remains high.

As the crypto landscape evolves, so too must the defenses against its threats.

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