The blockchain analytics firm, Arkham Intelligence, has sent shockwaves through the crypto community by recently revealing the digital identity of the hacker believed to be behind the largest Bitcoin theft in history. The case involves a Chinese mining pool named LuBian.
The heist took place in December 2020, where the hacker successfully stole a staggering 127,426 BTC, now valued at over $14.5 billion! The hacker exploited a security vulnerability in LuBian's private key creation process, draining more than 90% of the mining pool's assets.
LuBian reportedly attempted to contact the hacker and offered a reward for the return of the funds, but received no response. Arkham's investigation indicates that the hacker is likely still holding a significant portion of the stolen funds, which have skyrocketed in value due to the recent rise in Bitcoin's price.
Arkham's public disclosure of the hacker's on-chain address paves the way for further investigation by law enforcement. This case serves as a crucial reminder of the vital importance of cybersecurity in the crypto industry.