Arkham Don Show Las Las $14.5B 2020 LuBian Bitcoin Hack
Blockchain forensics firm Arkham Intelligence don find one record Bitcoin hack for Chinese mining pool LuBian wey happen for December 2020. Di attackers use weak private key generation method comot 127,426 BTC wey be like $3.5B that time and now e dey worth like $14.5B. Arkham on-chain analysis follow wallet activities for years confirm say na di biggest crypto heist for history be dis. LuBian move only 11,886 BTC go recovery wallets and dem dey send over 1,500 OP_RETURN messages dey beg for say make dem return di money. One small wallet consolidation happen July 2024 but most of di stolen money never move. Dis Bitcoin hack show say blockchain security risk still dey as e be, and e show say crypto defense need make e strong pass before.
Bearish
To show big Bitcoin hack dey raise security wahala sharp sharp. For short time, traders fit sell make dem no dey risk, because dem dey fear say the $14.5B of stolen BTC fit cause liquidation, wey go make market get bad feelings. For long time, the hack show say blockchain still get security gbege wey fit weak institutional confidence and slow down people wey wan use am, e mean say Bitcoin price go still dey under pressure. But since 2020, the stolen coins no move well, e reduce the chance of sharp sudden sell off, e fit stop heavy price waka waka. Overall, this kain thing dey bearish for Bitcoin.