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Home»Bitcoin»The largest crypto hack ever, $3.5 billion Bitcoin Heist is retroactively revealed

The largest crypto hack ever, $3.5 billion Bitcoin Heist is retroactively revealed

Bitcoin By Gavin02/08/2025
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Chinese mining pool LuBian has been hacked for 127 426 Bitcoin in 2020 (BTCAccording to Arkham Intelligence, a blockchain analytics platform, the hack was valued at $3.5 billion.

Platform retroactively uncovered LuBian emerged as the suspect in the Saturday heist. sixth-largest BTC mining pool The first time it was hacked, on 28 December 2020. 

The threat actor stole 90% of BTC from the pool before LuBian could take action. move It will use the remaining 11 886 BTC in order to recover wallets. Intelligence platform reported that neither platform nor hacker made public the attack.

Multiple transactions involving funds stolen from LuBian. Source: Arkham Intelligence

It cost the mining pool 1.4 BTC to embed an OP_RETURN to all of the hacker’s wallet addresses in 1516 messages. Arkham’s Team also wrote:

“It appears that LuBian was using an algorithm to generate its private keys that was susceptible to brute-force attacks. This may have been the vulnerability exploited by the hackers.”

The theft of Bitcoins is worth $14.5 Billion at the current price. This attack highlights that users need to take proactive measures to protect themselves and manage their private keys, using the strongest random number generators for creating keys.

Cybercrime, Mining Pools, Cybersecurity, Hacks
Source: The OP_Return message sent by LuBian from LuBian addresses to hacker addresses. Source: Arkham Intelligence

Related: Crypto hacks top $142M in July, with CoinDCX leading losses

LuBian Hack tops ByBit Hack and other famous crypto heists

ByBit was introduced in February. hacked for $1.5 billion It was reported that the attack occurred on a single day biggest crypto hack in history At the time.

ByBit is a computer virus that was first discovered in 2003. compromised SafeWallet developer machineAccording to the post-mortem report SafeWallet, a cybersecurity company from Mandiant.

Hackers likely installed malware on the computer of the developer and used the Amazon Web Services (AWS tokens) while they were online.

The hackers were able to gain access to sensitive systems, without triggering alarms or prompting a response by the security team.

An elderly person was found in April. lost $330 million in Bitcoin Through a social-engineering attack which laundered money through 300 different wallet address.

BTC’s heist, which was only $7 of the $330,000,000 stolen at the time was deemed the fifth largest crypto heist. frozen In the immediate aftermath of an attack.

Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users