Arkham Analysis Reveals $3.5 Billion Bitcoin Heist

The $3.5 billion Bitcoin heist from LuBian mining pool in 2020 is now publicly known. Arkham’s analysis traced the stolen Bitcoins, confirming LuBian’s loss and highlighting its significant impact on the Bitcoin market. As stated by an Expert Analyst from Arkham, Blockchain Intelligence Platform, “Primary on-chain analysis traced and published the stolen Bitcoin flows but did not attribute the attack to any known group or individual in its official records.”

LuBian, a China-based mining pool, was targeted, losing 127,426 BTC. The hacker remains unidentified, and no statements have been issued by project leadership. The stolen Bitcoin was moved to recovery wallets and now largely inactive.

127,426 BTC Theft Dramatically Impacts LuBian’s Liquidity

Arkham’s report shows the movement of stolen Bitcoins significantly affected LuBian’s liquidity. Although most BTC remains dormant, some were transferred after the data release. Industry leaders have not publicly commented on the event since its recent disclosure.

Financial impacts are extensive, with the theft being the largest in crypto history. The event prompted concerns about Bitcoin’s security and safeguarding protocols. No major regulatory actions or institutional comments have emerged as of now.

Bitcoin Heist Outpaces Mt. Gox and Bybit Hacks

This event surpasses past incidents like the Mt. Gox breach of 2014 and the 2025 Bybit hack, both impacting substantial sums. Historical trends suggest heightened security scrutiny and preventive measures following such large-scale thefts.

Kanalcoin experts highlight potential market resilience through enhanced monitoring and compliance systems. Data indicates industry trends towards more robust anti-theft protocols and possible reconsideration of security models in mining operations.