$14 Billion Chinese Bitcoin Mining Pool Theft Exposed as Biggest Crypto Hack Ever

Discover insights within the NFT area. This article dives into: “$14 Billion Chinese Bitcoin Mining Pool Theft Exposed as Biggest Crypto Hack Ever”.

An enormous Bitcoin heist from December 2020 has simply been uncovered, making it the most important crypto hack in historical past.

According to Arkham Intelligence, hackers stole 127,426 BTC from LuBian, a Chinese mining pool. The stolen Bitcoin was price $3.5 billion on the time. Due to Bitcoin’s value surge, these property at the moment are valued at $14.5 billion.

LuBian Exploit Was the Biggest Crypto Hack in History

LuBian operated mining services in China and Iran. In 2020, it managed virtually 6% of Bitcoin’s whole hash charge.

Arkham’s on-chain evaluation discovered that over 90% of LuBian’s BTC was drained on December 28, 2020. Additional funds have been stolen two days later from a Bitcoin Omni Layer deal with.

Neither LuBian nor the hacker publicly acknowledged the breach. The funds remained dormant till a consolidation occasion in July 2024.

Arkham researchers linked a number of addresses used within the theft and noticed that every obtained OP_RETURN messages from LuBian. The pool spent 1.4 BTC throughout 1,516 transactions to attraction for the stolen funds.

This sample strongly suggests the hack was actual and never spoofed. The hacker has but to maneuver the stolen BTC once more.

Arkham suspects LuBian used a flawed key technology algorithm, which can have uncovered its non-public keys to brute-force assaults. LuBian nonetheless holds round 11,886 BTC price $1.35 billion. 

Meanwhile, the hacker’s stash stays untouched, making them the thirteenth largest BTC holder globally.

This revelation surpasses the earlier file—the $1.5 billion Bybit hack in February 2025.

Arkham’s disclosure provides new urgency to reviewing key safety and crypto infrastructure, particularly amongst legacy mining operations.

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