{"id":25780,"date":"2025-08-03T11:00:15","date_gmt":"2025-08-03T08:00:15","guid":{"rendered":"https:\/\/forklog.com\/en\/researchers-uncover-undisclosed-lubian-mining-pool-hack-involving-127426-btc\/"},"modified":"2025-08-03T11:00:15","modified_gmt":"2025-08-03T08:00:15","slug":"researchers-uncover-undisclosed-lubian-mining-pool-hack-involving-127426-btc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/researchers-uncover-undisclosed-lubian-mining-pool-hack-involving-127426-btc\/","title":{"rendered":"Researchers Uncover Undisclosed LuBian Mining Pool Hack Involving 127,426 BTC"},"content":{"rendered":"<p>In December 2020, hackers targeted the LuBian mining pool, extracting 127,426 BTC. At the time, the coins were valued at approximately $3.5 billion, a figure that has since surged to $14.5 billion. This revelation comes from analysts at Arkham Intelligence.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: ARKHAM UNCOVERS $3.5B HEIST \u2014 THE LARGEST EVER<\/p>\n<p>LuBian was a Chinese mining pool with facilities in China &#038; Iran. Based on analysis of on-chain data, it appears that 127,426 BTC was stolen from LuBian in December 2020, worth $3.5 billion at the time and now worth\u2026 <a href=\"https:\/\/t.co\/PnIOKgMt0i\">pic.twitter.com\/PnIOKgMt0i<\/a><\/p>\n<p>\u2014 Arkham (@arkham) <a href=\"https:\/\/twitter.com\/arkham\/status\/1951729790299394113?ref_src=twsrc%5Etfw\">August 2, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Until the experts&#8217; publication, neither LuBian representatives nor the hacker had publicly acknowledged the breach, despite the stolen amount being the largest loss in the industry&#8217;s history.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe LuBian hack, during which assets worth $3.5 billion were stolen, became the largest in history. Due to the rise in BTC&#8217;s price since 2020, the current value of the stolen assets is $14.5 billion, making the hacker the 13th largest bitcoin holder on Arkham&#8217;s dashboard, surpassing the <a href=\"https:\/\/forklog.com\/en\/news\/mt-gox-transfers-1-billion-in-bitcoin\">Mt. Gox<\/a> hacker,\u201d experts highlighted.<\/p>\n<\/blockquote>\n<p>LuBian was one of the world&#8217;s largest mining pools in 2020, at one point controlling nearly 6% of the total bitcoin network hash rate. It operated in China and Iran. In February 2021, the platform abruptly shut down without explanation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt appears the [pool] was first hacked on December 28, 2020, stealing over 90% of their bitcoins. Then again on December 29, taking about $6 million,\u201d Arkham stated.<\/p>\n<\/blockquote>\n<p>Following the attack, LuBian sent on-chain messages to various hacker addresses, pleading for the return of the assets. The project spent 1.4 BTC sending 1516 transactions to communicate with the hacker.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdTg6bWV8qwFh_LxlV46nRl4x-BnyNXSq7R09Rpfj1Td3NhyjTEYm-Dv9dnnjeiVXZk4u3uhPex9l7TkAAXl58VDeUM6SlLYtoGZtG5dO8o86V5NPer7Xk8aQ5_d62y2pwxjiSj?key=XK0MWgQ8ZmdM4rgjdDnDAg\" alt=\"Researchers Uncover Undisclosed LuBian Mining Pool Hack Involving 127,426 BTC\"\/><figcaption class=\"wp-element-caption\">Source: X.<\/figcaption><\/figure>\n<p>According to the research, LuBian used a private key generation algorithm vulnerable to brute-force attacks. It is possible that hackers exploited this loophole.\u00a0<\/p>\n<p>The pool still holds the remaining 11,886 BTC, now valued at $1.35 billion. The criminals have not moved the coins since 2024.<\/p>\n<p>In July 2025, Indian police <a href=\"https:\/\/forklog.com\/en\/news\/coindcx-employee-implicated-in-44-million-crypto-theft\">launched an investigation<\/a> into the theft of crypto assets worth $44 million from the CoinDCX exchange. According to the investigation, hackers accessed the company&#8217;s wallets through an employee&#8217;s laptop.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In December 2020, hackers targeted the LuBian mining pool, extracting 127,426 BTC. At the time, the coins were valued at approximately $3.5 billion, a figure that has since surged to $14.5 billion. This revelation comes from analysts at Arkham Intelligence.\u00a0 BREAKING: ARKHAM UNCOVERS $3.5B HEIST \u2014 THE LARGEST EVER LuBian was a Chinese mining pool [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44],"class_list":["post-25780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime"],"aioseo_notices":[],"amp_enabled":true,"views":"192","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25780"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25779"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}