How a Chinese Crypto Titan’s Billion-Dollar Blunder Became Legend 🕵️‍♂️💸

by
  • In December 2020, LuBian—yes, that giant—lost a jaw-dropping 127,426 BTC, the worth of which skyrocketed to a monstrous $14.5 billion. Who knew that a mining farm could do a Houdini? 🔮🚀
  • At its peak, LuBian commanded 6% of Bitcoin’s entire network hash rate—imagine the power, or perhaps the hubris, of that digital behemoth. 🤖💪
  • An untouched hacker wallet, now the 13th largest Bitcoin holder—still chilling, waiting for its cameo appearance in the sequel. 🎬👻

Once upon a time in December 2020, in the shadowed alcoves of Chinese crypto mines, lurked a story of audacity and crypto chaos. LuBian, the mining pool titan, fell victim to a theft larger than a Hollywood lottery win—a theft of over 127,000 Bitcoins worth approximately $3.5 billion back then. Today? It’s more like a digital Titanic sailing into a $14.5 billion iceberg, oh, the irony! 🏴‍☠️💰

/wp:post-content

wp:image

/wp:image

Source- X

/wp:paragraph

This grand theft was buried under hush-hush until the clandestine internet detectives unearthed it—almost five years later! Thanks, Arkham Intelligence, for the forensic drama. Turns out, the hacker and LuBian finally spilled the beans—well, not quite, but the evidence was enough for a quantum of solace. 🕵️‍♂️🗝️

LuBian’s Crypto Catastrophe: Keep Calm and Crypto On?

/wp:paragraph

wp:image

/wp:image

Source – X

/wp:paragraph

Back in the halcyon days of 2020, LuBian was more than just a mining pool; it was a titan—employment of mining farms from China to Iran, wielding nearly 6% of the Bitcoin universe. No small potatoes, unless you’re a potato mining startup with less hash rate. 🥔💻

/wp:paragraph

wp:image

/wp:image

Source – X

/wp:paragraph

Then, December 28, 2020, happened—and with it, hackers, who clearly missed their coffee that morning. They exploited a flaw in private key generation, siphoning off more than 90% of LuBian’s BTC stash in a single, audacious swoop. Like a digital pickpocket with a PhD in chaos. 🚶‍♂️💼

/wp:paragraph

wp:image

/wp:image

Source – X

/wp:paragraph

Forty-eight hours later—because apparently pirates love a good countdown—another six million Bitcoin and USDT pirouetted out of a LuBian wallet tied to the Bitcoin Omni network. The grand finale? LuBian, dressed in desperation, sent out a barrage of 1,516 Bitcoin transactions—literally shouting, “Hey, hacker, buddy, can you just, I dunno, *please* give it back?” Talk about a digital plea for mercy. 🥺🔑

/wp:paragraph

The Shadowy Zombie: The Hacker Who Refused to Die

/wp:paragraph

wp:image

/wp:image

Source – X

/wp:paragraph

The supposedly ghostly, stolen loot remains dormant—sat on the hacker’s digital shelf, untouched since July 2024. Unlike a lazy dragon guarding its hoard, this hacker is now a giant among crypto giants—13th biggest Bitcoin whale, surpassing even the notorious Mt. Gox ghost. And yes, still sitting pretty on a treasure trove valued at a staggering 14.5 billion dollars. 💎👑

/wp:paragraph

What does it all mean? Well, clearly, the bug in LuBian’s private key genesis was a gift wrapped in code—an uncanny vulnerability that turned a mighty mining empire into a cautionary tale. Now, it’s a legendary whisper in the hallways of crypto lore, raising eyebrows about primitive mining security and the perils lurking behind the blockchain curtain. 🎭🔐

/wp:paragraph

Compared to wizard-level heists like the Bybit debacle—$1.5 billion snatched—they make us wonder: are we really safe, or just paper-thin digital castles built on sand? 🏰💥

Read More

2025-08-03 23:58