Bitcoin Heist of $3.5B Uncovered Five Years Later

The largest crypto theft on record was uncovered in 2025, involving a $3.5 billion Bitcoin heist against LuBian mining pool. The incident occurred in December 2020, with 127,426 BTC stolen and now valued at approximately $14.5 billion.

LuBian, a China-based mining pool, accounted for 6% of Bitcoin’s network in 2020. The heist remained undisclosed until Arkham Intelligence’s investigation five years later, with all information stemming from blockchain forensics. The Europol report on criminal finance evolution through cryptocurrencies offers insights into how such large-scale crypto thefts can evolve undetected.

$3.5 Billion Bitcoin Heist at LuBian Exposed

The attack drained over 90% of LuBian’s BTC, with no insurance or institutional bail-out disclosed. The stolen assets remain mostly unliquidated. No public statements have been made by LuBian or global regulatory bodies on the breach. As of now, there are no attributable statements, interviews, or tweets from any identified sources related to the LuBian Bitcoin heist. All details seem to stem from blockchain analysis and investigative reporting without any direct quotes or statements from stakeholders involved.

The financial implications include an increase in value from $3.5 billion to $14.5 billion. Historically similar scale breaches provide context for regulatory and technological outcomes, highlighting potential vulnerabilities in custodial holdings. A public service announcement from IC3 on fraud schemes and cybersecurity emphasizes the growing need for vigilance and preventive measures in the crypto space.

LuBian Loses 90% BTC, No Insurance Recovery

The LuBian breach surpasses prior large-scale events like the Mt. Gox theft and KuCoin hack. The focus on BTC and USDT without impacting multiple tokens marks a unique precedent in crypto thefts.

Expert analysis from Kanalcoin emphasizes the importance of on-chain data in tracing thefts. Historical comparisons suggest potential for more advanced security measures and heightened industry vigilance against similar incidents.

LuBian Breach Surpasses Mt. Gox in Scale

The attack drained over 90% of LuBian’s BTC, with no insurance or institutional bail-out disclosed. The stolen assets remain mostly unliquidated. No public statements have been made by LuBian or global regulatory bodies on the breach. As of now, there are no attributable statements, interviews, or tweets from any identified sources related to the LuBian Bitcoin heist. All details seem to stem from blockchain analysis and investigative reporting without any direct quotes or statements from stakeholders involved.