The $3.5 billion heist is the single largest cryptocurrency hack and went unreported by both parties for years, according to Arkham.
Chinese mining pool LuBian was hacked in 2020 for 127,426 Bitcoin (BTC), valued at about $3.5 billion at the time, making it the biggest crypto hack in history, according to blockchain analytics platform Arkham Intelligence.
The platform retroactively uncovered the heist on Saturday, claiming that LuBian, which emerged as the sixth-largest BTC mining pool at the time, was first hacked on December 28, 2020.
About 90% of the pool’s BTC was stolen by the threat actor before LuBian was able to move its remaining 11,886 BTC to recovery wallets. Neither the platform nor the hacker publicized the attack at the time, the intelligence platform said.
