US$14.5B Bitcoin Heist Uncovered: Largest Crypto Theft in History Linked to Vanished Chinese Mining Pool

Explore key highlights within the DeFi house. This article dives into: “US$14.5B Bitcoin Heist Uncovered: Largest Crypto Theft in History Linked to Vanished Chinese Mining Pool”.

• Arkham Intelligence uncovered a 2020 hack that drained 127,426 BTC from LuBian Mining Pool that may now be price US$14.5B.
• The assault exploited a flawed private key technology methodology, permitting hackers to entry over 90% of the mining pool’s holdings.
• LuBian tried to contact the thief utilizing blockchain messages, however the funds have remained inactive since a 2024 wallet consolidation.

Blockchain analytics agency Arkham Intelligence has uncovered what’s believed to be the biggest crypto theft ever recorded. Chinese Bitcoin mining operation LuBian Mining Pool misplaced 127,426 BTC, now valued at almost US$14.5 billion (AU$22.39 billion), in a beforehand undisclosed cyber assault in December 2020.

At the time of the hack, Bitcoin was buying and selling round US$27,000 (AU$41,733), inserting the loss at about US$3.5 billion (AU$5.41 billion). While Mt. Gox misplaced extra BTC in quantity, the worth of the LuBian theft makes it probably the most vital in greenback phrases.

BREAKING: ARKHAM UNCOVERS $3.5B HEIST – THE LARGEST EVER

LuBian was a Chinese mining pool with services in China & Iran. Based on evaluation of on-chain knowledge, it seems that 127,426 BTC was stolen from LuBian in December 2020, price $3.5 billion on the time and now price… pic.twitter.com/PnIOKgMt0i

— Arkham (@arkham) August 2, 2025

Related: Mt. Gox Moves 139,000 BTC, Analyst Says FUD is Overestimated

LuBian’s Rise and Fall

LuBian emerged in April 2020, shortly turning into one of many world’s main mining swimming pools and controlling almost 6% of the Bitcoin community’s hash fee inside a month. Despite being described on its web site as “the safest high yielding mining pool in the world,” the corporate disappeared from the general public eye by February 2021.

Arkham’s evaluation exhibits that over 90% of LuBian’s reserves have been drained on 28 December 2020, adopted two days later by the lack of a further US$6 million (AU$9.26 million) in BTC and USDT from one other LuBian-linked deal with. The remaining 11,886 BTC, price round US$1.35 billion (AU$2.08 billion), was reportedly moved to restoration wallets by 31 December.

Arkham believes the breach was attributable to LuBian utilizing a flawed private key technology methodology weak to brute-force assaults. Neither LuBian nor the hacker has acknowledged the theft publicly.

In the months following the hack, LuBian embedded blockchain messages utilizing Bitcoin’s OP_RETURN discipline to succeed in the perpetrator, requesting the return of funds and providing a reward. Despite these efforts, no reply was obtained.

The stolen BTC stays unmoved, with the final transaction being a wallet consolidation in July 2024. Arkham’s knowledge locations the hacker’s wallet because the thirteenth largest BTC holder at present tracked.

Related: US Secret Service Becomes Major Crypto Custodian After US$400M Seizure

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