Hold your champagne glasses—crypto’s version of “Mission: Impossible” just got a sequel. In 2020, someone decided LuBian mining pool was their personal Bitcoin ATM and walked away with 127,426 BTC. At the time, that was $3.5 billion. Now? A cool $14.5 billion. Talk about upgrading from a Lamborghini to a spaceship. 🚀
LuBian, which ran mining ops in China and Iran (because why not need a passport to mine Bitcoin?), controlled 6% of Bitcoin’s hash rate back in the day. But on December 28, 2020, someone hit “suck it all up” mode, draining 90% of its BTC. Two days later? They returned for seconds from a Bitcoin Omni Layer address. Clearly, they were *not* done flexing. 💸
The best part? Neither LuBian nor the hacker bothered to send a press release. The loot just sat there, dormant, until July 2024—probably napping. Arkham Intelligence tracked the heist via OP_RETURN messages (a digital “help, I’ve been hacked!” note) and found LuBian spent 1.4 BTC across 1,516 transactions to appeal for the stolen funds. Imagine sending 1,516 texts to a thief: “Please send it back! I’ll even throw in a thank-you card!” 📩
BREAKING: ARKHAM UNCOVERS $3.5B HEIST – THE LARGEST EVER
LuBian was a Chinese mining pool with facilities in China & Iran. Based on analysis of on-chain data, it appears that 127,426 BTC was stolen from LuBian in December 2020, worth $3.5 billion at the time and now worth…
— Arkham (@arkham) August 2, 2025
Arkham’s theory? LuBian’s key generation algorithm was basically a toddler’s password: “123456.” Hackers brute-forced their way in, exposing private keys like a bad Netflix password. LuBian still clings to 11,886 BTC ($1.35B), but the hacker? They’re now the 13th biggest BTC holder—because nothing says “success” like being a global financial oligarch. 🏆
This beats the previous record—the $1.5B Bybit hack—from 2025. So, what’s the takeaway? Time to dust off the crypto security textbooks and maybe hire someone who knows what a “flawed algorithm” is. Until then, the hacker’s stash remains untouched, like a digital piñata waiting for someone brave enough to pop it. 🎉
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2025-08-02 23:11