PANews reported on August 3rd that according to The Block, blockchain intelligence platform Arkham Intelligence disclosed that the LuBian mining pool was stolen of 127,426 bitcoins (currently worth nearly $14.5 billion) in December 2020. This theft appears to be the largest cryptocurrency theft at the time, with the stolen bitcoins valued at $3.5 billion.
The LuBian mining pool suddenly appeared in the mining market in late April 2020 and rapidly developed, becoming the sixth-largest mining pool on the Bitcoin network. Subsequently, the LuBian mining pool disappeared suddenly in February 2021, with cryptocurrency investors speculating that the pool might have been closed by the government or transformed into a private mining pool. However, according to Arkham, the LuBian mining pool was closed after a massive hacker attack that resulted in the theft of most of its reserves. "They seem to have been first attacked on December 28, 2020, losing over 90% of their BTC". "Subsequently, on December 29, about $6 million in BTC and USDT were stolen from active Lubian addresses on the Bitcoin Omni layer."
Arkham speculates that a flaw in the LuBian private key generation algorithm might be the root cause of this attack. LuBian retained 11,886 BTC, currently worth $1.35 billion, which they still hold.
