Dormant LuBian Pool Wallet Moves 9,757 BTC After Three Years

A wallet linked to LuBian pool moved 9,757 BTC after three years of dormancy.

On October 15th, a wallet associated with the LuBian mining pool, hacked in 2020, became active. After three years of inactivity, 9,757 BTC, valued at $1.1 billion, were transferred from the address, according to Lookonchain. 

#PeckShieldAlert A #LuBian-labeled address (39DUz…) has woken up after 3 years of dormancy and transferred 9,757 $BTC (worth ~$1.1 billion) to 2 new wallets，34kn9z…s9tef & bc1q4c…77s0

This comes as the U.S. government prepares to forfeit 127,271 BTC ($14.3B) — the funds… pic.twitter.com/je3KToiN9V

— PeckShieldAlert (@PeckShieldAlert) October 15, 2025

According to PeckShield, the funds were distributed between two new wallets. 

Hours later, on-chain specialists noticed another address linked to LuBian. It transferred 2,129 BTC worth $238 million. 

#PeckShieldAlert A #LuBian-labeled addresses (3FYHWu…dKb) has transferred another 2,129 $BTC (worth ~$238.6M) to a new address bc1q42ltpxsc6s8fne0jz474tvuvyq2sqw26ud80xy pic.twitter.com/Oa7H3XLjvf

— PeckShieldAlert (@PeckShieldAlert) October 15, 2025

The account, identified by Arkham as belonging to the LuBian hacker, retains assets worth $12. 

LuBian Hack May Not Have Occurred 

The activity intensified a day after reports of the U.S. authorities’ intention to seize 127,271 BTC worth $14.4 billion, allegedly stolen from LuBian. On October 15th, Arkham Intelligence experts confirmed that the funds had come under government control. 

BREAKING: US Government Seized $14B BTC Tied to LuBian and Chen Zhi’s Pig Butchering Operation

The US Government has submitted today a filing for the forfeiture of 127,271 $BTC ($14.2 BILLION) connected to Chen Zhi, chairman of Prince Group, who allegedly ran large-scale… pic.twitter.com/GjyE7CWz2e

— Arkham (@arkham) October 14, 2025

The assets were seized as part of an investigation against the criminal group Prince Group and its leader Chen Zhi. The Department of Justice accused him of creating a money laundering scheme through a network of pseudo-legal businesses, including mining companies. 

Cryptocurrency mining allowed criminals to obtain “clean” bitcoins, not directly linked to their illegal activities. LuBian was one such company. 

Official documents state that the pool was initially funded by proceeds from fraud, human trafficking, and the “pig butchering” scheme. It is also noted that the assets confiscated from Chen are the same ones allegedly stolen from LuBian in 2020. 

“The US Department of Justice does not specify how the bitcoins came under government control — whether private keys were compromised, voluntarily handed over, or if the 2020 ‘hack’ was actually a U.S. special operation,” Arkham noted. 

Elliptic specialists suggested that the transfer of funds in June-July 2024 indicated the bitcoins were placed under U.S. government control. 

“However, it remains unclear how exactly the coins came into the possession of the U.S. authorities, and who exactly ‘stole’ them from Chen/LuBian — or if a theft even occurred. If a hack did indeed take place, it is most likely that an independent hacker exploited a vulnerability to steal LuBian’s bitcoins, subsequently attracting the attention of the U.S. government,” experts speculated. 

Back in August 2025, the attack on the mining pool was discovered. Until Arkham Intelligence’s publication, neither LuBian representatives nor the hacker had publicly disclosed the breach. 

The stolen amount represents the largest loss in the industry’s history.