The wallet, which had remained dormant for nearly three years, suddenly transferred approximately 9,757 BTC (worth around $1.1 billion) to new addresses. This unexpected transaction has become a major topic of discussion among investors and blockchain analysts alike.

A Billion-Dollar Move After Three Years of Silence

According to on-chain tracking platform Lookonchain, LuBian’s “39DUz” wallet became active for the first time in three years, moving 9,757 BTC to several new wallets. What makes the event even more intriguing is its timing — the transfer occurred on the same day the U.S. government seized 127,000 BTC allegedly stolen from LuBian. This coincidence has led to widespread debate over whether the movement was a mere coincidence or a deliberate response to the DOJ’s action.

Experts note that while such large-scale blockchain transfers can be easily tracked, determining who actually controls the funds behind the transactions remains unclear.

LuBian and the Chen Zhi Connection

The LuBian mining pool emerged suddenly in 2020, rapidly becoming one of the largest Bitcoin mining pools at the time. However, it mysteriously disappeared after the theft of 127,000 BTC in December 2020. The stolen Bitcoin — worth around $3.5 billion at the time — was never fully traced, and the identity of the perpetrators remained unknown.

Yesterday, the U.S. Department of Justice (DOJ) filed a lawsuit against the Cambodia-based Prince Group and its chairman Chen Zhi.
According to the DOJ, Chen Zhi is accused of involvement in forced labor, fraud, and money laundering operations. The department also confirmed that the 127,000 BTC seized by U.S. authorities were the same coins stolen in 2020 from LuBian.

This revelation has reignited debate over whether the LuBian incident was truly a hacking theft or part of a larger-scale money laundering scheme.

Mysterious Movements Continue Across the Crypto World

Following the U.S. government’s seizure of 15 billion USD worth of Bitcoin, the sudden reactivation of the long-dormant LuBian wallet and the transfer of BTC to new addresses have sparked fresh speculation across the crypto market.

Experts remain uncertain whether this movement is linked to ongoing legal enforcement actions or represents a deliberate, coordinated transfer.
Such mysterious, high-value on-chain movements continue to draw the attention of investors and analysts alike — once again highlighting the importance of security, transparency, and traceability in the evolving digital asset ecosystem.

The post Mysterious Billion-Dollar Bitcoin Transfer from a Company Holding Thousands of Seized BTC! appeared first on Coin Engineer.

LuBian Mining Pool Hacked in December 2020

Arkham Intelligence uncovered the hack on Saturday, revealing that the LuBian mining pool, which was the sixth-largest BTC mining pool at the time, was attacked on December 28, 2020. About 90% of its Bitcoin was stolen by hackers before the pool managed to transfer its remaining 11,886 BTC to recovery wallets. Neither LuBian nor the hackers reported the attack at the time.

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The hackers embedded OP_RETURN messages in 1,516 transactions to store wallet addresses. Arkham also noted that LuBian used a private key generation algorithm that was susceptible to brute-force attacks, which may have been the vulnerability exploited by the hackers.

The Aftermath and Crypto Security Warning

At the time of the hack, the stolen Bitcoin was worth $3.5 billion, but now, at current prices, it’s valued at around $14.5 billion. Arkham highlights this incident as a critical reminder for crypto users to implement robust private key management and security practices. The breach also serves as a warning for all cryptocurrency investors about the risks of weak algorithms and poor cybersecurity practices.

A Turning Point in Crypto Theft History

The LuBian hack surpasses the $1.5 billion ByBit hack from earlier this year, which was previously considered the largest crypto theft in history. This event, along with several other notable hacks, highlights the ever-present threats in the crypto space. In April, an elderly individual lost $330 million in Bitcoin via a social engineering attack, which was later laundered through 300 different wallet addresses.

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The post $3.5B Bitcoin Heist from 2020 Retroactively Uncovered! appeared first on Coin Engineer.