Arkham Reveals Largest Crypto Hack Worth $14.5 Billion

Arkham Intelligence reported a major hack involving the Chinese Bitcoin (BTC) mining company LuBian, which lost 127,426 BTC in December 2020.

The loss was valued at $3.5 billion at the time, equivalent to approximately $14.5 billion now as BTC trades near $114,000.
LuBian held nearly 6% of the total Bitcoin hashrate in May 2020, making it one of the largest mining pools globally.
The hack was attributed to vulnerabilities in LuBian’s algorithm for generating private keys, susceptible to brute-force attacks.
LuBian attempted to contact the hacker via blockchain messages, offering rewards for asset return, but received no response.
Funds have remained unmoved, although the hacker’s address received test transactions from Binance in September 2024.
This incident surpasses Bybit’s $1.5 billion hack in February.