“Arkham, A Blockchain Analytics FIRM, SAYS IT UNCOVERED A FIVE-YEAR-ELD TheFT of 127,000 BTC from Lubian, A Majoor 2020 Mining Pool.”, – WRITE: www.coindesk.com
In an aug. 2 Thread on X, The Onchain Analytics Firm Said It Had Uncovered Evidence that 127 HAS Ever Publicly Acknowledged the Breach, and Arkham Said It Is The First To Report the Incident.
Lubian Was One of the Largest Bitcoin Mining Pools Globally in 2020, Reportedly Controlling Nearly 6% of Bitcoin’s Total Hash Rate As of May That Year. The Hack, if ConfirMed, Wound Eclipse The Scale of Other High-Profile Exploits Like Mt. Gox and Bitfinex by nominal value at the time of loss.
Arkham’s Analysis Indicates that on Dec. 28, 2020, more than 90% of Lubian’s BTC Holdings Were Drained. Two Days Later, Another Theft Involving About $ 6 Million Wrth of BTC and USDT OCCURRED, LINKED TO A LUBIAN ADDRESS OPERATING ON THE BITCOIN Omni Layer. The Company Appears to have moved ITS Remaining 11.886 BTC – THEN WORTH HUNDRES OF MILLIONS – INTO RECOVY WALLETS by Dec. 31, 2020.
A notable Detail in Arkham’s Report Is The Presance of Op_return Messages – Special Transactions that Alow Data to Be Embedded in the Bitcoin Bitcoin Bitcoin Bitcoin – Sent from Lubian to the Hacker. Accorness to Arkham, The Mining Pool SPEN 1.4 BTC Across Over 1,500 Transactions Attempting to Contact The Thief, URGING THEM TO RETURN FUNDS. This Effort Suggests the Messages Were Genuine and Originated from the Rightful Wallet Owner.
Arkham Believes the vulneraggality May have Stemmed from Lubian’s Use of a Flawed Private Key Generation Algorithm that Left Itft Susceptible to Brute-Foracks. The Stolen Btc Has Apparently Remened Largely Dormant, with The Last Major Movement Being A Wallet Consolidation in July 2024.
Due to the Price Appreciation of Bitcoin Since 2020, The Current Value of the Stolen Assets is Estimated to Be $ 14.5 Billion. That makes the wallet associated with the Lubian Hacker The 13th Largest Btc Holder Tracked by Arkham – Surpassing the Holdings Linked to the Mt. Gox Breach.
As of Today, Both The Hacker and Lubian Are Are Believed to Still Control Their Respect BTC Balans. Arkham have Published Wallet Trackers for Both Parties, But No Adrational Details About the Identities Involved Have Been DisClosed.
