In December 2020, a theft of 127,426 Bitcoins from the Chinese mining pool LuBian occurred, which remained undisclosed until a recent analysis by Arkham Intelligence revealed the incident as the largest Bitcoin heist in history.
The Heist at LuBian
In December 2020, a massive theft of **127,426 BTC** from the **LuBian mining pool**, which previously held **6%** of the global Bitcoin network, was reported. However, there have been no public statements from LuBian's leadership regarding the incident, and the perpetrator remains unidentified.
Scale of Losses and Their Implications
The stolen Bitcoin is currently valued at over **$14.5 billion**, prompting discussions on how this affects market perceptions of crypto-security. Remarkably, while **90% of LuBian's BTC** was taken, the attacker has not liquidated the stolen assets, and their wallet is now positioned as the **13th largest** in the world.
Comparison with Previous Major Heists
This theft surpasses prior cases such as **Mt. Gox** and the **Ronin Bridge** hack of 2022. Historical incidents, including **WazirX** and **KuCoin**, involved significantly smaller sums compared to LuBian's loss. Experts in the industry are now calling for enhanced security protocols and increased transparency around private key management.
This incident illustrates the critical need for improved security standards in the cryptocurrency industry and highlights how major vulnerabilities can impact its stability.
