Archham discovers Bitcoin theft of $ 3.5 billion from the stolen Chinese mining pool in 2020, which is the biggest theft ever. star-news.press/wp

Evolution journalist

we

Evolution journalist

we

About the author

Amin Ayan is a coding journalist with more than four years of experience in this industry. He contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins and 24/7 Wall St.

Involve

Last update:

August 3, 2025

Why confidence cryptonews

Cryptonews has covered the subjects of coded currency since 2017, with the aim of providing useful visions to our readers. Journalists and analysts have extensive experience in market analysis and Blockchain technologies. We strive to maintain high editing standards, focusing on realistic accuracy and balanced reports in all fields – from encrypted currencies and Blockchain projects to industry events, products and technological developments. Our continuous presence in the industry reflects our commitment to providing relevant information in the world of advanced digital assets. Read more about Cryptonews

Bitcoin theft has appeared since 2020 after nearly four years, and it is now called the most encryptive theft that has ever discovered.

Saturday, Blockchain Analysis Company Arkham Intelligence mentioned 127,426 BTC, worth $ 3.5 billion at the time and about $ 14.5 billion today, was stolen from the Chinese mining pool in December 2020.

Lubian rose rapidly in early 2020, becoming the sixth largest mining group on Bitcoin by mid -year.

It promoted its website as “the most high -yield mining pools in the world.”

Lopen disappeared in 2021, causing the closure speculation

By February 2021, Lopen disappeared without explanation, which led to speculation that either was closed by the authorities or quietly converted into a special gathering.

Arkham’s investigation refers to a more dramatic outlet: a penetration of the pool possessions.

“They seem to have been penetrated for the first time on December 28, 2020 for more than 90 % of BTC,” he wrote.

The next day, the attackers cleared another $ 6 million in BTC and USDT from the Lubian -linked address on the Bitcoin omni layer.

The company believes that Bitcoin steals stems from the weaknesses of the Lubian’s special key generation system, which may have allowed brute force attacks.

While 11,886 BTC, approximately $ 1.35 billion, is still without touched by the Lubian portfolio, none of the stolen coins since July 2024 have been transported.

Interestingly, Lopen tried to communicate with the attacker using the Bitcoin OP_RUTURN.

In two transactions, the team wrote: “To Whitehat that saves our assets, you can contact us … to discuss the return of assets and rewards.”

The message included an email address, but it is not clear whether the pirates are replied at all.

While the collapse of MT. Gox Reminded more BTC, Lubian breach is the biggest definite encryption the value at the time of the accident.

Bitcoin penetration, the cost of theft is $ 2.2 billion in H1 2025: CERTIK

Crypto investors lost more than $ 2.2 billion for breakthroughs, fraud and violations in the first half of 2025, which is largely driven by wallet concessions and hunting attacks, according to Certik’s security report.

Violations of the portfolio alone caused losses of $ 1.7 billion in only 34 accidents, while hunting fraud formed more than $ 410 million through 132 attacks.

Two major, including the BYBIT penetration of $ 1.5 billion in February and the exploitation of the CETUS of $ 225 million in May, exceeded the losses of the year to the top, representing approximately $ 1.78 billion.

Without these, the losses are closely in line with the previous years by about $ 690 million.

Ethereum has been the primary goal, suffering from losses of more than $ 1.6 billion in 175 events.

The report also indicated the high development of clinic plans and continuous risks of social engineering, and urged encryption users to verify links, avoid suspicious sites and use devices governor.