Oh boy, are you ready for a story of epic proportions? 🤯 Arkham Intelligence has uncovered the largest crypto hack in history, and it’s a doozy! The victim was a relatively unknown Chinese Bitcoin mining company called LuBian. I mean, who hasn’t heard of them, right? 🙄
According to Arkham’s investigation, LuBian lost a whopping 127,426 BTC to hackers in December 2020. At the time, Bitcoin was trading around $27,000, which meant the hackers made off with a cool $3.5 billion. That’s like stealing a small country’s GDP! 🤑
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
💪
The hack was apparently caused by LuBian’s algorithm for generating private keys, which was susceptible to brute-force attacks. Yeah, because that’s exactly what you want to hear about your crypto security: “Hey, our system is basically a game of chance!” 🤦♂️
LuBian even sent a batch of OP_RETURN messages to the hacker’s addresses, asking for a fund return and promising rewards. It’s like they were saying, “Hey, hacker, you can keep the money if you just give us back our stuff!” 🤷♂️
“To the whitehat who is saving our asset, you can contact us,” LuBian wrote in a blockchain-based message to the hacker. But, unsurprisingly, the response never arrived. 📝
The funds have never moved, but the hacker’s address has received multiple test transactions from Binance, the largest cryptocurrency exchange, in September 2024. I guess that’s one way to get a feel for the funds! 📊
Fast forward to today, and that $3.5 billion is now worth a staggering $14.5 billion, with Bitcoin trading close to $114,000. That’s like winning the crypto lottery! 🤑 This hack eclipses Bybit’s $1.5 billion hack in February. I guess you could say LuBian’s loss was Bybit’s gain… just kidding, it was actually a random hacker’s gain! 😂
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2025-08-03 16:36