A cool bitcoin hest billions of dollars have been brought to light in just four years
Summary
- A record bitcoin hack has just been exposed, after 426, an attacker stole 127,426 BTC from Lubian in 2020.
- At today’s prices, the stolen amount is about $ 15 billion.
- The hacker still holds almost all coins, with barely any major movement since theft.
Ecoding for blockchain analytics firm Arakham Intelligence, Hack targeted Lubian, a Chinese mining pool once was at the world’s largest place. At its peak in 2020, Lubians controlled near 6% of the total hash rate of the bitcoin network, with mining operations spread to China and Iran.
Investigations have revealed that the attack took place on the firm around 28 December, 2020, when the hackers attracted 127,426 BTC (BTC) from Lubian, at that time the value of about $ 3.5 Ballian. A day after that attack, BTC and USDT (USDT) were stolen from a bitcoin omni-layer address associated with another $ 6 million pool.
Despite the size of a violation, neither Lubian never publicly revealed the incident to the attacker. Arkham identified Hack on one-three activity and confirmed, linked the missing fund with co-saffron cyber attack.
How Lubian Hacked
The analysis of Arkham suggests that Lubian May is using a weak private key generation method at that time, which is unsafe for the brut-form attacks. The hacker exploited this defect in the system, drawing more than 90% of the pool’s BTC in two days.
On 31 December, Lubians protected them by carrying a recovery purse to secure their remaining assets. He also asked to contact the Hacker Director using Bitcoin OP_Return function to embed blockchain transactions.
The company spent about 1.4 BTC to send more than 1,500 messages to the hacker, begging to return the stolen BTC. However, all this effect, and hackers still holds stolen coins. Most of them have not been untouched for years, except for a retain wallet consolidation in July 2024.
Arkham said that Lubian managed to maintain around 11,886 BTC, which is now worth $ 1.35 billion. But as the price of bitcoin has increased since 2020, the price of the Stash has increased to about 14.5 billion dollars, which makes the hacker one of the largest BTC goldrs on Arakham’s database, also rank the 2011 Gox attacker.
Hacks and scams are a person’s problem for the crypto industry for a long time. So far this year, more than $ 3.1 billion has been a major exchange violations, protocol feat and fishing attacks.
Year -Dar -Sail with loss, Presser