PANews reported on August 3rd that according to The Block, blockchain intelligence platform Arkham Intelligence revealed that 127,426 bitcoins (currently worth nearly $14.5 billion) were stolen from the LuBian mining pool in December 2020. The theft appears to be the largest cryptocurrency heist at the time, with the stolen bitcoins valued at $3.5 billion.

The LuBian mining pool suddenly appeared on the mining market in late April 2020 and quickly grew, becoming the sixth largest mining pool on the Bitcoin network. Subsequently, the LuBian mining pool suddenly disappeared in February 2021, and cryptocurrency investors speculated that the pool might have been shut down by the government or had transformed into a private mining pool. However, according to Arkham, the LuBian mining pool closed after a large-scale hacker attack resulted in the theft of most of its reserves. "They appear to have been hacked for the first time on December 28, 2020, losing over 90% of their BTC." "Subsequently, on December 29, approximately $6 million in BTC and USDT were stolen from active Lubian addresses on the Bitcoin Omni layer."

Arkham speculates that a flaw in LuBian's private key generation algorithm may have been the root cause of the attack. LuBian secured 11,886 BTC, currently valued at $1.35 billion, and still holds them to this day.