Main to remember
Bitcoin Lubian 2020 has been revealed as the greatest hacking in the history of cryptography, with 127,426 BTC stolen, worth around 14.5 billion dollars at the time of the editorial staff.
A long -term mystery in the world of cryptography has just been brought to the attention of the public.
Blockchain detectives in Arkham Intelligence revealed that Lubian, a Chinese Bitcoin swimming pool (BTC), was the victim of colossal hacking in December 2020, which saw 127,426 BTC disappear without trace.
At the time, the stolen parts were worth $ 3.5 billion, which was an absurdly high amount to start.
But with the meteoric increase in Bitcoin in the following years, the value of the parts has climbed $ 14.5 billion, which officially marks it as the greatest cryptographic robbery in history.
Arkham Intelligence discovers the scam
Arkham Intelligence revealed that the pirates violated Lubian, which was once the sixth largest Bitcoin mining area on December 28, 2020, and stole approximately 127,426 BTC.
However, for years, neither Lubian nor the attacker revealed the incident, keeping it entirely under the Wraps.
In fact, the hackers would have drained approximately 90% of Lubian’s funds before the swimming pool managed to secure the remaining 11,886 BTC in recovery wallets, making a solid blow to the pool treasure.
But that didn’t stop there. The next day, the violation was intensified, with an additional $ 6 million in BTC and USDT that came out of Lubian’s wallets.
In an attempted negotiation, Lubian spent 1.4 BTC out of 1,516 transactions to send messages to pirates, arguing them to return the stolen funds and offer a reward, but their attempts were in vain.
Arkham retraced the exploitation to a low generation of private keys, which probably made Lubian portfolios sensitive to raw attacks.
Cryptographic weaknesses, exposed
The Lubian hack has now overshadowed all the previous cryptography flights, even exceeding the violation of Bybit of $ 1.5 billion in February, which was previously nicknamed the largest in history.
Although unlike Bebit, the loss of which has been traced to a compromised developer machine, Lubian’s vulnerability would be from the defective confidence portfolio code which was based on low 32 -bit entropy, a method already exploited in the violations of the past portfolio.
Remarkably, the hacker left the stolen bitcoin intact, consolidating him in a single portfolio as recently in July 2024.
At 14.5 billion dollars of value, the hiding place made the aggressor the 13th largest BTC holder, ranking above the sad hacker Mt. Gox.
The Lubian feat scale not only reflects critical gaps in portfolio security, but also the way in which these violations can send shock waves in the industry.
At the same time, less sophisticated scams also take place through the ecosystem, which also affects small retail players.
Consequently, as the control intensifies between corporate and individual actors in crypto, the Lubian incident is a brutal reminder of the fragility of the ecosystem, both technical and reputation.
