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LuBian Bitcoin theft now valued at $14.5 billion

The 2020 hack of LuBian Mining Pool escalates in value as Bitcoin continues to rise.

August 2, 2025 at 09:02 PM

LuBian’s $3.5B 2020 Bitcoin Hack Now Worth $14.5B

The 2020 theft from LuBian Mining Pool has escalated in value due to Bitcoin's rising price.

LuBian’s Bitcoin Hack Grows to $14.5B Loss

According to a recent report from Arkham Intelligence, the LuBian Mining Pool fell victim to the largest recorded Bitcoin theft in late 2020. The data shows that 127,426 BTC, worth approximately $3.5 billion at the time, was stolen through a brute-force attack. Arkham asserts that the breach has largely gone unacknowledged, both by LuBian and the suspected thief. The stolen Bitcoin's value has since surged, reaching an estimated $14.5 billion today, making the hacker's wallet one of the largest holders of Bitcoin. Arkham noted that unusual transactions linked to LuBian were attempts to communicate with the thief, urging them to return the funds. Recently, the stolen Bitcoin has remained inactive, with a notable wallet consolidation in July 2024.

Key Takeaways

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LuBian Mining Pool lost 127,426 BTC in a 2020 theft.

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At the time, the theft was valued at $3.5 billion.

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Today, the stolen Bitcoin is worth around $14.5 billion.

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The hack remains unacknowledged by both LuBian and the hacker.

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Efforts to communicate with the hacker were made through ON_BLOCKCHAIN messages.

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Arkham suggests a flawed key generation algorithm enabled the breach.

"The hack, if confirmed, would eclipse the scale of other high-profile exploits."

This emphasizes the significance of LuBian's loss in the crypto history.

"Over 90% of LuBian’s BTC holdings were drained two days before New Year’s."

This statistic underscores the severity of the breach's impact on the mining pool.

"Arkham’s findings shed light on a previously hidden crisis in cryptocurrency security."

The analysis suggests broader implications for crypto assets management and safety.

"Attempts to communicate with the hacker highlight the desperation of stolen fund recovery."

This shows the emotional and financial toll on the victims of such cybercrimes.

This hack reveals not just a significant loss but the vulnerabilities inherent in cryptocurrency systems. The glaring questions about security standards in the mining industry emerge again, especially for pools that manage a substantial portion of the Bitcoin network. Despite the staggering rise in Bitcoin's value, the original theft illustrates how some breaches can be overlooked until the financial implications resonate loudly across the industry.

Highlights

A hack that was once $3.5 billion now stands at $14.5 billion.
LuBian's breach reveals deep vulnerabilities in crypto systems.
Over 1,500 messages sent to the thief show desperation and urgency.
This theft highlights ongoing security concerns in the crypto industry.

Significant risk from the Bitcoin theft

The massive financial loss from LuBian's Bitcoin theft raises significant concerns about security in the cryptocurrency space. If recognized or exploited further, it could lead to investor distrust and increased regulatory scrutiny.

The rise in Bitcoin's value continues to strain the narrative around crypto security.

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bitcoin cryptocurrency hacking security blockchain cryptocurrency technology

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