Quick Takeaways
- Hackers moved 15,959 BTC from wallets associated with the LuBian mining pool hack into four newfangled addresses.
- The 2020 LuBian breach saw 127,426 BTC stolen, worth over $14. 5 billion today.
- Analysts are tracking whether the stolen funds will hit exchanges or mixing services.
Hackers Transfer $1 8 Billion in Bitcoin from LuBian Hack
Wallets tied to the infamous 2020 hack of Chinese mining pool LuBian have moved nigh 15, 959 bitcoins worth about $1. 83 billion into four separate addresses in what looks to be a coordinated series of transactions, granted per on-chain data.
Web3 analyst OnchainLens first flagged the movement, using data from Arkham Intelligence to uncover the massive transfers.
Breakdown of the Bitcoin Transfers
Agree to the analysis, two separate transactions of 4,999 BTC (around $539 8 million each) were transmitted to unlike speech, along with 3,424 BTC ($369.7 million) and 2,535 BTC ($274 4 million).
This marks one of the expectant, unmarried Clarence Days drifting from wallets tied to the LuBian taxicab, as the investment company was stolen nearly five years ago. Analysts consider the activity could indicate an endeavor to consolidate or dilute the lead of the stolen bitcoins.
Scope: The 2020 LuBian Bitcoin Heist
The LuBian hack remains one of the largest cryptocurrency thefts in history. In December 2020, assaulter syphon off 127 426 BTC valued at about $3.5 billion at the time. Today, that same draw would be worth over $14. 5 billion.
The incident emphasizes vulnerability in the mining pool mathematical process, in particular around custody management and internal security controls. At the time, LuBian was a lesser-known but speedily growing kitty in China, staking a subdued quarry for internal or external exploitation.
Psychoanalysts Monitor Potential Money Laundering Activity.
Blockchain trackers are tight to find out whether the newly active fund will flow into centralized exchanges, integrate services, or cross-chain bridges, common tactics used to fog the bloodline of stealing crypto.
So far, none of the four receiving wallets has shown signs of circulating the funds so far, but psychoanalysts warn that large-scale money laundering attempts could stretch into the microscope stage over the arrival weeks.
Given the magnitude of the sum, the regulator and interchange may heighten surveillance to flag any suspicious inflows associated with the LuBian addresses.
What’s Next for the LuBian Funds?
While the motivation behind the movement remains ill-defined, the reincarnate pocketbook activity has reignited discussion around the traceability of stolen crypto assets and the effectiveness of blockchain forensics in recovering long-lost funds.
With $1.8 billion in Bitcoin shorts, this case will test the skills of on-chain investigators and compliance teams worldwide.
