Arkham: LuBian mining pool was stolen over 127000 bitcoins in 2020, now worth nearly $14.5 billion

According to The Block, blockchain intelligence platform Arkham Intelligence revealed that 127426 bitcoins (now worth nearly $14.5 billion) were stolen from the LuBian mining pool in December 2020. This theft seems to be the largest cryptocurrency theft case at the time, with stolen Bitcoin worth $3.5 billion. The LuBian mining pool suddenly appeared in the mining market in late April 2020 and rapidly grew, becoming the sixth largest mining pool on the Bitcoin network at one point. Subsequently, the LuBian mining pool suddenly disappeared in February 2021, and cryptocurrency investors speculated that the pool may have been shut down by the government or transformed into a private mining pool. However, according to Arkham, the LuBian mining pool was shut down after a large-scale hacking attack resulted in the theft of most of its reserves. “ They seem to have been hacked for the first time on December 28, 2020, losing over 90% of BTC;. “ Subsequently, on December 29th, approximately $6 million worth of BTC and USDT were stolen from the active Lubian address on the Bitcoin Omni layer. ” Arkham speculates that a flaw in the LuBian private key generation algorithm may be the root cause of this attack. LuBian has held 11886 BTC, currently worth $1.35 billion, and still holds them to this day.