LuBian Wallet Moves $1.1B in Bitcoin After Three Years of Inactivity
A Bitcoin wallet linked to LuBian, the mining pool hacked in December 2020, moved 9,757 BTC—about $1.1 billion—on Wednesday, ending three years of dormancy.
Analytics firms Peckshield and Lookonchain report the coins were split between two new addresses, “34kn9z…s9tef” and “bc1q4c…77s0.” It remains unclear if the transfers signal liquidation or are simply security-driven wallet updates.
The move follows the U.S. Department of Justice seizure of $15 billion in Bitcoin from the Prince Group, associated with forced-labor operations in Cambodia. Elliptic confirmed some of the seized coins include part of the 127,271 BTC stolen from LuBian in 2020.
This transaction highlights the continued scrutiny of stolen crypto and the long-lasting repercussions of the LuBian hack.
About The Author
More Stories
LINK Falls 8%, Breaking Support Even After Chainlink’s Largest Buyback in Months
Ethereum Holds the Strongest Ecosystem, Analyst Says, Predicting Ether Will Break Above $5,000
Chainlink’s LINK Climbs 3.6% From Recent Dip Following Stellar-Powered RWA Expansion