🚨The largest BTC hacking case in history has been exposed!

No one mentioned it for over 4 years, and it was actually uncovered by Arkham! Truly unbelievable...

At the end of 2020, the Chinese mining pool LuBian (Roadside Mining Pool) was hacked, and 127,426 BTC were stolen in one go, worth $3.5 billion at the time, now worth almost $14.5 billion!

This directly made the hacker the 13th largest BTC holder in the world, even more ruthless than the infamous Mt. Gox hacker.

💥Event Review:

1️⃣ LuBian was one of the top ten mining pools in the world in 2020, controlling 6% of the network's hash rate at its peak.

2️⃣ The hacking occurred on December 28, 2020: 90% of the BTC was stolen in one go.

3️⃣ The next day (December 29), about $6 million worth of BTC & USDT (on the Bitcoin Omni layer) was stolen again.

4️⃣ On December 31, LuBian hurriedly transferred the remaining coins to a new recovery wallet.

😮The most interesting detail:

After the hacker stole the coins, LuBian sent an OP_RETURN message to each hacker address, begging the other party to return the coins...

To send these messages, LuBian spent 1.4 BTC and made a total of 1516 transactions!

The fact that they were able to send messages so densely indicates that these messages were genuinely from LuBian and not forged by someone else.

🔍How did the hacker do it?

Arkham speculates: LuBian likely used an insecure private key generation algorithm, allowing someone to brute-force the private key.

So this is not the conventional sense of an exchange being hacked; rather, the private key was directly obtained, which is nearly impossible to prevent.

Current Situation:

LuBian still retains 11,886 BTC (worth about $1.35 billion).

The hacker has not moved most of the stolen BTC, only doing a merge transfer once in July 2024.

The hacker currently ranks 13th in Arkham: more than the Mt. Gox hacker.

🌟My Opinion:

Many people say that everything on the blockchain is open and transparent, but if no one digs deep into the on-chain data, even if astronomical amounts are stolen, they can remain hidden for years...

Especially with centralized assets like mining pools, once something goes wrong, it becomes a super disaster.

A reminder to everyone: don't use self-created private key algorithms, safety is always the bottom line!

The world of blockchain is more mysterious than novels...🤯