Arkham Show Di $3.5B Lubian Heist Wen Di Biggest Bitcoin Hack
Blockchain intelligence firm Arkham don expose di biggest Bitcoin hack for di world wey happen for Chinese mining pool Lubian. For December 28, 2020, di attackers use weak 32-bit entropy for Lubian Trust Wallet code comot 127,426 BTC — wey be $3.5 billion for dat time, now e worth like $14.5 billion. Dem comot 90% of di pool reserves before Lubian transfer di remaining 11,886 BTC go recovery wallets. Di next day, another $6 million worth of BTC and USDT comot. Lubian no talk about di breach and them shut down quietly for early 2021 as rumor of regulatory crackdown dey go round. Dem try recover money by over 1,500 small transactions. Arkham on-chain analysis show say na private key generation failure cause di hack, no be regulation. Di stolen coins just dey sleep until dem gather am reach one address in 2024, make di hacker become 13th biggest BTC holder. Dis Bitcoin hack show how wallet security get wahala and di need make crypto platforms wey dey centralized get better transparency and operational controls.
Bearish
Di disclosure of di world biggest Bitcoin hack fit make market sentiment dey heavy. For short term, traders fit dey react with caution, dem dey fear say di same kind wahala fit dey other centralized platforms, and dis go cause selling pressure for BTC. For history, big hacks don cause price small small fall as people no trust security like before. For long term, market fit accept di news as companies go make wallet security and transparency better. But di worry wey dey about centralized custody fit still limit buying momentum, so market view fit still be bearish.