Bitcoin News Today: LuBian Mining Pool Hit by $14.5 Billion Bitcoin Theft in 2020 Breach

A major breakthrough in cryptocurrency crime has emerged as blockchain intelligence firm Arkham Intelligence revealed what is now recognized as the largest Bitcoin theft in history. The stolen amount, equivalent to 127,426 BTC, has grown in value to approximately $14.5 billion as of 2025 [1]. The theft, uncovered through the analysis of 1,516 OP_RETURN messages, occurred at the LuBian mining pool in 2020, marking a significant breach in the security of one of the leading Chinese Bitcoin mining operations [2].

At the time of the theft, the stolen coins were valued at roughly $3.5 billion; today, they are worth nearly $14.5 billion [1]. According to the report, attackers struck on December 28, 2020, seizing over 90% of LuBian’s Bitcoin holdings in one sweep. The next day, they drained another $6 million in BTC and USDT from a wallet tied to the pool’s Bitcoin Omni layer activity. Arkham suspects the exploit was enabled by a flaw in LuBian’s private key generation process, which may have been vulnerable to brute-force attacks [2].

Despite the scale of the theft, LuBian still controls 11,886 BTC — about $1.35 billion at current prices — and the main stash stolen by the attacker has remained untouched since July 2024. LuBian has even attempted to reach out through Bitcoin’s OP_RETURN field, posting messages to the hacker offering a discussion on asset return and a potential reward [1].

The breach remained undetected for several years, allowing the stolen Bitcoin to appreciate significantly in value [2]. The revelation has sparked widespread concern across the cryptocurrency industry, highlighting the growing risks associated with large-scale mining operations and the potential for undetected thefts in the space. While the OP_RETURN messages, typically used for metadata, were instrumental in uncovering the theft, the fact that such a massive breach went unnoticed for over four years suggests a lack of robust monitoring and threat detection mechanisms [1].

The incident raises important questions about the security measures in place at major mining pools and the transparency of blockchain activities. Analysts have pointed out that the sheer scale of the theft underscores the vulnerabilities that remain in the infrastructure of the Bitcoin network [2]. The discovery also emphasizes the role of blockchain analysis in identifying and tracing illicit activities. Arkham’s ability to connect these transactions and identify the theft highlights the growing importance of data analytics in the crypto space. As the industry continues to mature, the demand for advanced monitoring tools and transparency mechanisms is expected to increase [1].

However, this also raises concerns about the privacy of legitimate transactions and the balance between security and user anonymity. With the stolen Bitcoin now valued at over $14 billion, the implications of this breach extend beyond the immediate financial loss. It has the potential to affect investor confidence and prompt regulatory scrutiny [2]. While the LuBian mining pool has not yet issued an official statement, the revelation has already triggered discussions on the need for stronger security protocols and the development of real-time fraud detection systems [2].

The Bitcoin market has largely remained stable following the revelation, with no significant price fluctuations observed in the immediate aftermath. However, the long-term impact of the incident remains uncertain. As the industry works to address the vulnerabilities exposed by the theft, the focus will likely shift toward improving security standards and enhancing blockchain transparency [2]. For now, the $14.5 billion heist stands as a benchmark in the history of crypto crime, setting a new precedent for the scale of cyber threats in the digital asset space [1].

Sources:

[1] AInvest. (2025). Bitcoin News Today: Arkham Unveils $14.5 Billion LuBian. https://www.ainvest.com/news/bitcoin-news-today-arkham-unveils-14-5-billion-lubian-bitcoin-heist-op-return-traces-2508/

[2] BeInCrypto. (2025). Biggest Crypto Hack Ever: $14 Billion Bitcoin Theft Revealed. https://beincrypto.com/biggest-crypto-hack-ever-chinese-bitcoin-mining-pool/