Blockchain analytics agency Arkham has revealed {that a} beforehand unknown hack of Chinese language mining pool LuBian in December 2020 resulted within the theft of 127,426 BTC value round $3.5 billion on the time.
This makes it the biggest crypto theft in historical past, Arkham acknowledged, and the haul at this time can be value a whopping $14.5 billion.
“Neither LuBian nor the hacker has publicly acknowledged the hack,” the agency acknowledged.
BREAKING: ARKHAM UNCOVERS $3.5B HEIST – THE LARGEST EVER
LuBian was a Chinese language mining pool with amenities in China & Iran. Based mostly on evaluation of on-chain information, it seems that 127,426 BTC was stolen from LuBian in December 2020, value $3.5 billion on the time and now value… pic.twitter.com/PnIOKgMt0i
— Arkham (@arkham) August 2, 2025
Greater than Mt. Gox
The breach went unreported for over 4 years regardless of draining almost all of LuBian’s holdings. The mining pool, which was as soon as top-ten globally with 6% of Bitcoin’s hash price, mysteriously shut down in early 2021. The closure was beforehand attributed to regulatory strain, however is now understood to be the results of this catastrophic hack.
Arkham reported that the mining pool seems to have been first hacked in December 2020 for over 90% of its BTC. Later that month, round $6 million of extra BTC and USDT was stolen from a LuBian tackle energetic on the Bitcoin Omni layer. The miner rotated their remaining funds to restoration wallets on the finish of December 2020.
Arkham believes the theft was enabled by weak non-public key technology, susceptible to brute-force assaults. LuBian made determined makes an attempt to get well the funds, sending over 1,500 small transactions with 1.4 BTC with messages pleading for the return of the funds, however the hacker by no means responded.
LuBian preserved 11,886 BTC, at present value $1.35 billion, which they nonetheless maintain; nevertheless, the hacker additionally nonetheless holds the stolen BTC, with their final recognized motion being a pockets consolidation in July 2024.
The huge heist makes the LuBian hacker the thirteenth largest Bitcoin holder on Arkham, forward of the Mt. Gox hacker, it acknowledged.
Huge 12 months For Crypto Hacks
Cybersecurity agency Certik reported that round $153 million was misplaced, combining all of the exploits and scams in July.
Round $86.6 million was attributed to incidents involving exchanges, whereas $55.4 million was misplaced in incidents associated to code vulnerabilities, it revealed.
Combining all of the incidents in July we’ve confirmed ~$153M misplaced to exploits and scams.
~$86.6M is attributed to incidents involving exchanges.
Incidents associated to code vulnerabilities signify ~$55.4M losses.
Extra particulars under pic.twitter.com/1EsEFmZa1f
— CertiK Alert (@CertiKAlert) August 2, 2025
In the meantime, Hacken reported that $3.1 billion has been misplaced within the first six months of 2025, and it was DeFi’s “worst quarter since early 2023.”
A surge in social engineering and AI-driven assaults was in charge for the losses, which have already exceeded these in all of 2024, it acknowledged.
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