A Bitcoin massif in December 2020 has just been exposed, which makes it the greatest crypto hacking in history.
According to Arkham Intelligence, the pirates stole 127,426 BTC from Lubian, a Chinese mining swimming pool. The stolen bitcoin was worth $ 3.5 billion at the time. Due to the overvoltage of bitcoin prices, these assets are now estimated at $ 14.5 billion.
Lubian exploit was the greatest piracy in crypto in history
Lubian has operated mining installations in China and Iran. In 2020, he controlled almost 6% of the total bitcoin hash rate.
Arkham’s chain analysis revealed that more than 90% of Lubian BTC was drained on December 28, 2020. Additional funds were stolen two days later from a Bitcoin Omni layer address.
Neither Lubian nor the pirate publicly recognized the violation. The funds remained dormant until a consolidation event in July 2024.
Arkham researchers have linked several addresses used in the flight and observed that each had received OP_return messages from Lubian. The swimming pool spent 1.4 BTC on 1,516 transactions to use stolen funds.
This model strongly suggests that hacking was real and not usurped. The pirate has not yet moved the stolen BTC again.
Arkham suspects that Lubian has used a generation algorithm of defective keys, which may have exposed its private keys to brutal attacks. Lubian still has around 11,886 BTC worth $ 1.35 billion.
Meanwhile, the hacker of the pirate remains intact, making it the 13th largest BTC holder in the world.
This revelation exceeds the previous record – the hacking of $ 1.5 billion in February 2025.
Arkham’s disclosure adds a new emergency to examination of key security and cryptographic infrastructure, in particular among the inherited mining operations.
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