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Secret Bitcoin Heist: How $3.5 Billion Vanished From Major Mining Pool Without Anyone Knowing
In a shocking revelation, blockchain analytics firm Arkham Intelligence has uncovered the largest cryptocurrency theft in history, with hackers siphoning off an astonishing $3.5 billion worth of Bitcoin from LuBian mining pool in 2020. The colossal heist occurred on December 28th and remained undetected for nearly five years until it was recently discovered.
The massive theft surpasses other notable breaches such as the Mt. Gox and Bitfinex hacks, with a staggering value of $3.5 billion at the time. Notably, the incident highlights severe security weaknesses in early mining infrastructure, emphasizing the importance of robust random number generators for creating private keys.
The heist was carried out by hackers exploiting a vulnerability in LuBian’s algorithmic private key generation, which allowed them to drain nearly 90% of its Bitcoin reserves. This extraordinary act of theft is unprecedented, considering the immense scale and duration it went undetected.
Source: coincentral.com
