Undetected $3.5B Bitcoin Theft from LuBian Mining Pool Exposed After Five Years
Blockchain analytics firm Arkham has revealed a major theft of 127,000 BTC (worth over $3.5 billion) from LuBian, a major Chinese mining pool active in 2020. According to Arkham, the theft went unnoticed for nearly five years and involved a complex series of transactions beginning in late 2020, shortly after LuBian became inactive.
Arkham’s investigation traced the stolen funds across hundreds of transactions. The breach, considered one of the largest undetected crypto thefts on record, highlights the persistent challenges in securing crypto assets and transparency in mining operations.
This case underscores the need for robust security practices and increased scrutiny in the crypto industry as it matures.
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