Recently, the blockchain intelligence platform Arkham revealed a major event that shocked the crypto assets community. In December 2020, the once-thriving LuBian Mining Pool suffered an unprecedented hacker attack, resulting in the theft of 127,000 Bitcoins. At current market prices, the value of these stolen Bitcoins is nearly 14.5 billion dollars.

This attack may not only be the largest scale Crypto Assets theft case at the time but also directly led to the sudden disappearance of the LuBian Mining Pool. The LuBian Mining Pool entered the market in April 2020 and quickly grew to become the sixth largest Mining Pool in the Bitcoin network within just a few months. However, just as it was on the rise, in February 2021, the LuBian Mining Pool suddenly disappeared from public view, triggering widespread speculation in the industry.

Arkham's analysis suggests that the recent large-scale hacker attack was the fundamental reason for LuBian's closure. The attack resulted in LuBian losing over 90% of its Bitcoin reserves. Moreover, on December 29, another address related to LuBian was also attacked, resulting in the loss of Bitcoin and USDT worth 6 million dollars.

Regarding the technical details of the attack, Arkham speculated that there may be vulnerabilities in the private key generation algorithm used by LuBian, providing hackers with an opportunity. This incident once again highlights the importance of security in Crypto Assets, and warns the entire industry of the need to continuously improve security awareness and technical standards.

Despite suffering such a heavy blow, LuBian does not seem to be completely down and out. According to Arkham, LuBian currently still holds 11,886 Bitcoins, which is valued at approximately $1.35 billion at current market prices. Although this amount seems insignificant compared to the losses, it is still a considerable crypto asset.

This incident is not only a heavy blow to LuBian, but also sounds an alarm for the entire crypto assets industry. It reminds us that in this rapidly evolving field, security is always the primary concern. As the crypto assets market continues to mature, we look forward to seeing more effective security measures being developed and implemented to prevent similar tragedies from happening again.