A major blockchain data analytics firm Arkham Intelligence has recently highlighted one of the largest bitcoin heights in history. For their latest investigations, on-chain data shows that 127,426 BTC we stolen from Lubian, a chin mining pool with sugar and operations in Iran, back in December 2020. Prices of about $ 3.5 billion. However, with an increase in bitcoin price over the years, stolen funds are now an estimated $ 14.5 billion.
Lubian, a prominent player in the global bitcoin mining ecosystem, Navar publicly accepted the hack, nor has been carried forward by the Hacker Com. The stolen amount remained inactive and remained hidden from the public until the investigation of Arkham brought him back to the headlines. This revelation has discussed the security of the Crypto community within the industry, especially in mining and custodial operations.
The sheer scale of Intress makes it the biggest document to date, even crosses the notorious MT. Gox incident (25,000 BTC theft). As Arakham continues to track the movements of these funds, the phenomenon raises questions about transparency, cyber security and weaknesses with global crypto infrastrate.
Lubian how to lose more than 127,000 BTC for an important vulnerability
Lubian, one of the world’s largest bitcoin mining pools, controlled approximately 6% of the total hash-K of May 2020. Arkham Intelligence recently exposed. Raw for analysis of Arkham, Lubian was first hacked on December 28, 2020, losing more than 90% of his BTC reserves in the same exploitation. A day later, on 29 December, BTC and USDT were stolen from a lubian address active on an additional $ 6 million bitcoin layer.
In a frustrated attempt to recover his funds, Lubians rotated the remains for the recovery wallet on 31 December. He spent 1.4 BTC in 1,516 transactions to broadcast these, a clear indication that these were valid recovery attempts and not another malicious actor Bruti-Forsing results of his keys.
Arkham’s investigation indicates a significant defect in Lubian’s private major generation process. It appears. Despite mass the theft, Lubian managed to preserve 11,886 BTC – currently a value of $ 1.35 billion – which lives in others.
For the theft BTC, Arakham reported that the last known of the hacker was a wallet consolidation in July 2024. Alert. This brake not only highlights the risks in blockchain protection, but also reduces the need for rigorous major management practices.
Bitcoin Weekly Close will set tone for August
Bitcoin is getting closer to a significant weekly after the end of a breakdown from its consolidation. The price fell below the $ 115,724 major support level, reaching a local low of $ 112,104. Currently, BTC is trading around $ 112,726, exactly above $ 90,459 from the weekly 50-day moving average, below the average below the average below the current price at a speed of 100-day and 200-day, indicate a strong long-term uptard.
However, rejection near $ 122,000 resistance highlights a potential change as a really possible change. The $ 115,724 is opening the door for a breakdown from a weekly closed two-week range below the Marks Woydown, powerful to the $ 110K-$ 112K area and below. This level, which previously served as a breakout area in late June, can now serve as significant demand support.
On the other hand, if the bulls manage to rebuild $ 115,724 before the closure of Sunday, it will indicate strength and flexibility, invalidate the breakdown and interacts to the bulls structure. The volume is reducing this decline, suggesting that the film is more corrective than a trend. The next 48 hours will be cricket, as the weekly close will define the direction of bitcoin for the coming weeks.
Specially displayed image from Dall-E, chart from tradingview
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