$14 Billion In Stolen Bitcoin? Arkham Intelligence Unveils Biggest BTC Heist To Topple Bybit’s $1.5 Billion Theft
The post $14 Billion In Stolen Bitcoin? Arkham Intelligence Unveils Biggest BTC Heist To Topple Bybit’s $1.5 Billion Theft appeared on BitcoinEthereumNews.com. On-chain analytics platform Arkham Intelligence recently uncovered the biggest crypto hack ever. The hack involved stolen Bitcoin worth $3.5 billion at the time, now worth $14 billion, which is larger than the $1.5 billion Bybit hack this year. Arkham Intelligence Unveils $14 Billion Hack on Chinese Mining Pool LuBian In an X post, Arkham revealed that it had uncovered a $3.5 billion Bitcoin heist, the largest ever. This hack was on LuBian, which was a Chinese mining pool with facilities in China and Iran. The analytics platform stated that 127,426 BTC appears to have been stolen from LuBian in December 2020. These coins, which were worth $3.5 billion at the time, are now valued at $14.5 billion based on the current Bitcoin price. Furthermore, the platform noted that neither LuBian nor the hacker has publicly acknowledged the hack since it took place in 2020. At the time, the Chinese firm was one of the world’s largest mining pools, controlling almost 6% of the Bitcoin network’s total hash rate as of May 2020. Arkham revealed that the mining pool appears to have been first hacked on December 28, 2020, for over 90% of its BTC. The hacker subsequently stole around $6 million worth of BTC and USDT on December 29 from a LuBian address that was active on the Bitcoin Omni layer. On December 31, LuBian then rotated its remaining funds to recovery wallets. This hack trumps the Bybit hack of $1.5 billion, which occurred on February 21 earlier this year. Unlike the LuBian hack, which involved Bitcoin, hackers stole over 400,000 ETH from Bybit’s cold wallets through social engineering. As a result, the hackers were able to authorize these transfers despite the wallets being multisig. Attempts To Recover The Stolen Bitcoin Arkham also revealed that LuBian had made attempts to…
The post $14 Billion In Stolen Bitcoin? Arkham Intelligence Unveils Biggest BTC Heist To Topple Bybit’s $1.5 Billion Theft appeared on BitcoinEthereumNews.com.
On-chain analytics platform Arkham Intelligence recently uncovered the biggest crypto hack ever. The hack involved stolen Bitcoin worth $3.5 billion at the time, now worth $14 billion, which is larger than the $1.5 billion Bybit hack this year. Arkham Intelligence Unveils $14 Billion Hack on Chinese Mining Pool LuBian In an X post, Arkham revealed that it had uncovered a $3.5 billion Bitcoin heist, the largest ever. This hack was on LuBian, which was a Chinese mining pool with facilities in China and Iran. The analytics platform stated that 127,426 BTC appears to have been stolen from LuBian in December 2020. These coins, which were worth $3.5 billion at the time, are now valued at $14.5 billion based on the current Bitcoin price. Furthermore, the platform noted that neither LuBian nor the hacker has publicly acknowledged the hack since it took place in 2020. At the time, the Chinese firm was one of the world’s largest mining pools, controlling almost 6% of the Bitcoin network’s total hash rate as of May 2020. Arkham revealed that the mining pool appears to have been first hacked on December 28, 2020, for over 90% of its BTC. The hacker subsequently stole around $6 million worth of BTC and USDT on December 29 from a LuBian address that was active on the Bitcoin Omni layer. On December 31, LuBian then rotated its remaining funds to recovery wallets. This hack trumps the Bybit hack of $1.5 billion, which occurred on February 21 earlier this year. Unlike the LuBian hack, which involved Bitcoin, hackers stole over 400,000 ETH from Bybit’s cold wallets through social engineering. As a result, the hackers were able to authorize these transfers despite the wallets being multisig. Attempts To Recover The Stolen Bitcoin Arkham also revealed that LuBian had made attempts to…
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