Overview

• Arkham Intelligence traced 127,426 BTC to a single wallet in July 2024 through on-chain forensics linking it to a December 2020 exploit of LuBian’s key-generation algorithm.
• Hackers drained over 90% of LuBian’s reserves by brute-forcing a vulnerability in its private-key algorithm, stealing coins worth $3.5 billion at the time and about $14.5 billion today.
• On December 31, 2020, LuBian rotated its remaining 11,886 BTC into recovery wallets and sent more than 1,500 blockchain messages offering a whitehat reward for the funds’ return.
• No stolen coins have been returned or spent since the wallet consolidation in July 2024, leaving the full cache under the hacker’s control.
• The disclosure has intensified calls for stronger cryptographic standards and tighter custody protocols at major Bitcoin mining pools.