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The Lubian Bitcoin robbery of 2020 has been unveiled as the biggest hack in the crypto history, stolen with 127,426 BTC, worth around $ 14.5 billion at the time of writing.
A long-term resolved mystery in the crypto world has just been brought to the attention.
Blockchain -Speurnezen at Arkham Intelligence have unveiled That Lubian, a Chinese Bitcoin [BTC] Mijnbouwpool, was the victim of a colossal hack in December 2020, with 127,426 BTC disappearing without a track.
At the time, the stolen coins were worth $ 3.5 billion, which is an absurdly high amount to start with.
But with the meteoric rise in Bitcoin in the following years, the value of the coins rose to no less than $ 14.5 billion, which officially marked it as the largest crypto robbery in history.
Arkham -intelligence reveals the scam
Arkham Intelligence discovered that Hackers Lubian, who was once the sixth largest Bitcoin-Mijnbouwpool, broken on December 28, 2020 and about 127,426 BTC stable.
But for years, neither Lubian neither unveiled nor the attacker, so that it kept it completely under wraps.
Allegedly, Hackers reportedly emptied around 90% of Lubian funds before the swimming pool succeeded in securing the remaining 11,886 BTC in recovery portfolios and giving a huge hit to the swimming pool treasure chest.
But it didn’t stop there. The next day the infringement escalated, with another $ 6 million in BTC and USDT from the Lubian portfolios.
In an attempt to negotiate, Lubian spent 1,4 BTC over 1,516 transactions to send messages to hackers, begging to give back the stolen funds and offer a reward, but their attempts were in vain.
Arkham followed the exploit back to a weak generation of private key, making the Lubian portfolios susceptible to brutal-force attacks.
Crypto -weak points, exposed
De Lubian Hack has now overshadowed all earlier crypto -thefts and even surpassed the $ 1.5 billion of February Bybit -InstrumentationThat was previously dubbed as the biggest in history.
Although in contrast to Bybit, whose loss was brought back to a compromised developer machine, the vulnerability of Lubian was said to be due to a defective trust wallet who was dependent on weak 32-bit entropy, a method that was already exploited in earlier portfolios.
It is remarkable that the hacker left the stolen bitcoin untouched and consolidated it in a single wallet in July 2024.
With a value of $ 14.5 billion, the stock makes the perpetrator the 13th largest BTC holder, even above the notorious Mt. Gox Hacker.
The scale of the Lubian exploit not only reflects critical gaps in portfolio protection, but also how such breaches can steer shock waves in the industry.
At the same time, less technically advanced scam also take place in the ecosystem, which also influences smaller retail players.
Therefore, as the control intensifies in both business and individual actors in crypto, the Lubian incident and a grim reminder of the vulnerability of the ecosystem, both technical and reputation.