Arkham Intelligence Traced $3.5 Billion Bitcoin Theft Hidden for Years
Main Idea
Arkham Intelligence uncovered a $3.5 billion Bitcoin theft from Chinese mining group LuBian in 2020, which remained hidden until August 2025, revealing vulnerabilities in private key generation.
Key Points
1. LuBian lost 127,426 BTC in a 2020 hack, worth about $3.5 billion at the time, making it the largest known crypto-related theft.
2. The theft was hidden until Arkham Intelligence traced it on August 2, 2025, using blockchain messages left by LuBian.
3. LuBian spent around 1.4 BTC to post 1,516 OP_RETURN messages on the blockchain addressed to the hacker, aiding in the investigation.
4. Arkham Intelligence found that LuBian's private key generation algorithm was vulnerable to brute-force attacks, likely exploited by the hackers.
5. The incident highlights significant security risks in crypto mining operations and the importance of robust private key management.
Description
Arkham Intelligence , a blockchain analytics firm, reported that it identified a Bitcoin theft that went unnoticed for years on August 2 .
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