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
Bitcoin reclaims $81,000 after stronger-than-expected CPI data, as BNB and DOGE outperform major cryptocurrencies
For the first time since March 2023, Bitcoin’s bull-bear cycle gauge has turned green.
GameStop’s $56 billion bid is rejected by eBay, shifting attention back to the company’s bitcoin holdings.