A massive Bitcoin theft from 2020 has surfaced nearly four years later, and it’s now being called the largest crypto heist ever uncovered. Key Takeaways: Arkham has revealed an undisclosed 2020 hack of 127,426 BTC from Chinese mining pool LuBian. The attack exploited weaknesses in LuBian’s private key system, with over 90% of its BTC drained in a single day. LuBian attempted to contact the hacker via Bitcoin’s OP_RETURN feature. On Saturday, blockchain analytics firm Arkham Intelligence reported that 127,426 BTC, valued at around $3.5 billion at the time and nearly $14.5 billion today, was stolen from Chinese mining pool LuBian in December 2020. LuBian rose quickly in early 2020, becoming the sixth-largest mining pool on the Bitcoin network by mid-year. Its website promoted it as “the safest high yielding mining pool in the world.” LuBian Vanished in 2021, Sparking Speculation of Shutdown By February 2021, LuBian had disappeared without explanation, fueling speculation that it was either shut down by authorities or quietly converted into a private pool. Arkham’s investigation points to a more dramatic exit: a hack that drained the pool’s holdings. “They appear to have been first hacked on December 28th, 2020 for over 90% of their BTC,” Arkham wrote. The following day, attackers siphoned off another $6 million in BTC and USDT from a LuBian-linked address on the Bitcoin Omni layer. The firm believes the Bitcoin theft stemmed from vulnerabilities in LuBian’s private key generation system, which may have allowed brute-force attacks. While 11,886 BTC, worth roughly $1.35 billion, remains untouched in LuBian’s wallet, none of the stolen coins have moved since July 2024. Interestingly, LuBian attempted to communicate with the attacker using Bitcoin’s OP_RETURN feature. BREAKING: ARKHAM UNCOVERS $3.5B HEIST – THE LARGEST EVER LuBian was a Chinese mining pool with facilities in China & Iran. Based on analysis of on-chain data, it appears that 127,426 BTC was stolen from LuBian in December 2020, worth $3.5 billion at the time and now worth… pic.twitter.com/PnIOKgMt0i — Arkham (@arkham) August 2, 2025 In two transactions, the team wrote: “To the whitehat who is saving our asset, you can contact us… to discuss the return of asset and your reward.” The message included an email address, but it’s unclear if the hacker ever replied. While the Mt. Gox collapse involved more BTC, the LuBian breach is the largest confirmed crypto theft by value at the time of the incident. Bitcoin Hacks, Theft Cost Investors $2.2B in H1 2025: CertiK Crypto investors lost over $2.2 billion to hacks , scams, and breaches in the first half of 2025, driven largely by wallet compromises and phishing attacks, according to CertiK’s latest security report. Wallet breaches alone caused $1.7 billion in losses across just 34 incidents, while phishing scams accounted for over $410 million across 132 attacks. Two major incidents, including Bybit’s $1.5 billion hack in February and Cetus Protocol’s $225 million exploit in May, skewed the year’s losses upward, together accounting for nearly $1.78 billion. Without these, losses align more closely with previous years at around $690 million. Ethereum remained the primary target, suffering over $1.6 billion in losses across 175 events. The report also pointed to rising sophistication of phishing schemes and ongoing risks from social engineering, urging crypto users to verify links, avoid suspicious sites, and use hardware wallets. The post Arkham Uncovers $3.5B Bitcoin Theft from Chinese Mining Pool Stolen in 2020, Largest Theft Ever appeared first on Cryptonews .
The chief investment strategist at Charles Schwab believes that a restrained Fed is one of the key reasons why markets are bullish. In an interview on the Excess Returns YouTube channel, Liz Ann Sonders says investors prefer a calm and steady Fed, even amid pressure from President Trump to cut rates, as inflation remains elevated. Sonders also notes that the Fed’s current pause is perfectly in line with its mandate of low inflation and maximum employment. “I think part of the reason why the market is doing well is because the Fed is not cutting. A combination of because they’re not bowing to political pressure, and oh and by the way, neither side of their dual mandate suggests that they should be cutting. Financial conditions are easy. The unemployment rate is steady, actually has been coming down. Inflation is still above their target. So the conditions just don’t suggest that they should be easing.” The investor points out that a Fed rate cut at this stage could backfire by tightening financial conditions and triggering a market drop. She explains that borrowing costs are tied to the 10-year Treasury yield, a rate determined by market forces and not directly set by the Fed. The Charles Schwab executive warns that a cut could push yields higher, making it more expensive for consumers and businesses to borrow. “And there’s a distinct possibility that if the market feels the Fed is prematurely lowering rates, doesn’t have the incentive to do that based on their mandate, that you could have a repeat of what happened as recently as last fall – when the Fed cut by a 100 basis points and the Fed funds rate and the 10-year yield over the same exact span of time went up by a 100 basis points. So this idea that if we just get the Fed to cut rates, that that eases borrowing costs for companies and brings mortgage rates down, suggests a misunderstanding of what rate it is that is tied to borrowing rates for corporations, for individuals. I think part of the reason why the market has done well is because the Fed doesn’t have the conditions that suggest easing.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Markets Are Rallying Because the Fed Is Not Cutting, Says Charles Schwab Exec – Here’s Why appeared first on The Daily Hodl .
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin’s SHA-256 encryption
LuBian’s hack dethrones ByBit as crypto’s biggest-ever heist.
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin surged above
Centibillionaire Elon Musk uses his AI to prove Bitcoin's security
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Satoshigallery has announced
American Bitcoin Corporation (ABC), the Trump family-backed Bitcoin mining firm, is nearing completion of its backdoor merger with Gryphon Digital Mining to go public on Nasdaq. This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies. On July 31, Gryphon
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin is currently
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! XRP is currently