Blockchain intelligence platform Arkham has disclosed a major security breach involving Chinese Bitcoin mining pool Lubian. According to the firm’s findings, the hack occurred in 2020 and resulted in the theft of 127,426 BTC.
Arkham’s on-chain analysis confirms the stolen Bitcoin remains entirely onchain across digital wallets. There has been no recorded movement of the assets since the time of the theft, indicating the funds remain inactive.
The revelation sheds light on one of the largest cryptocurrency thefts in history. Lubian operated as a prominent mining pool prior to closing operations shortly after the hack was discovered by internal security teams.