- Lubian low encryption gave full access to a hacker at 127,000 bitcoins without alert
- A playing PC and the time was all the pirate needed to break the “safest” platform of Crypto
- More than 5,000 compromised portfolios and no alarm has started while billions have disappeared silently
This started as a silent infiltration in one of the largest cryptocurrency mining pools in the world has now been confirmed as the largest crypto flight in history.
The Lubian mining pool, formerly a dominant force in the Bitcoin network, quietly lost more than 127,000 bitcoins in 2020.
The violation was only discovered in 2025 by Arkham Intelligence, revealing a failure of $ 14.5 billion in stolen assets which had remained intact and not detected for half a decade.
A historic breach hidden at sight
The scale of this flight even eclipses even famous MT. Gox incidents from the beginning of the 2010s, because if Mount Gox saw a higher number of bitcoins disappear, the significantly lower value of Bitcoin at the time made the financial loss much smaller in comparison.
On the other hand, the Lubian hack, estimated at around $ 3.5 billion when it occurred, has since rose to $ 14.5 billion due to the rise in bitcoin prices.
Despite time, the pirate has kept all stolen funds, without any signs of money laundering or large -scale expenses.
Arkham’s investigation suggests that the Lubian violation has probably exploited a fundamental weakness in the security architecture of the platform.
His generation of private keys was not based on only 32 bits of entropy, a standard dangerously low by cryptographic standards and which allowed the attacker to deploy brute force attacks with nothing more than a play and patience PC.
The involvement is that critical digital assets were kept by the digital equivalent of a paper lock.
The pirate, which would have compromised more than 5,000 wallets, used vulnerability to access and siphon almost all Lubian Bitcoin holdings.
The mining pool itself disappeared from the network in 2021, just a few months after the flight.
Lubian had boasted once to be the “safest mining swimming pool”, an assertion now overshadowed by his catastrophic collapse.
This incident draws attention to the broader issue of cyber-hygiene in cryptographic infrastructure.
The use of complete safety suites, robust encryption methods and advanced firewall protections should be non -negotiable – but even among high -level players, critical supervisors remain alarming.
The absence of transparency around the breach until 2025 also raises questions about the number of similar attacks can have gone unnoticed.
The pirate has now been arrested, but the Lubian case recalls the consequences of low digital security.
It also shows how identity theft and systemic failures can converge in the largely unregulated world of cryptocurrency.
Via Toms equipment
