The crypto landscape is once again rocked by a significant movement of stolen funds, as hackers have orchestrated a massive transfer of nearly $1.83 billion worth of bitcoin. This transfer involves 15,959 BTC connected to the infamous LuBian hack, which remains one of the largest cryptocurrency thefts in history.
On October 22, 2025, blockchain analysts reported that the stolen funds were divided and sent to four different wallets. The staggering amount of bitcoin, valued at over $1.83 billion based on current market prices, has raised eyebrows in both the analytical and law enforcement communities, who are now closely monitoring these transactions for any signs of laundering or movement toward exchanges.
Details of the Transfer
According to data from on-chain analytics platforms, the funds were transferred through a series of transactions that included two transfers of 4,999 BTC each, along with additional transfers of 3,424 BTC and 2,535 BTC. This division indicates that the hackers are still managing the stolen funds in a coordinated fashion, leaving analysts to speculate on their next moves.
The LuBian mining pool, which was breached in December 2020, saw hackers make off with an eye-popping total of 127,426 BTC, valued at around $3.5 billion at the time. Today, that amount is worth close to $14.5 billion, showcasing the dramatic increase in bitcoin’s value since the theft.
Renewed Activity and Future Implications
The recent transactions mark the first notable on-chain activity of these wallets in quite some time, prompting analysts to keep a watchful eye. They are particularly interested in whether any of these bitcoins will be sent to exchanges, which could provide crucial leads in identifying the individuals behind the theft.
Blockchain researchers are well aware of the tactics employed by hackers, often involving mixing services or coin swaps to obscure the origins of stolen assets. Although no signs of laundering were detected at the time of this report, historical trends indicate that substantial transfers like this frequently precede attempts to liquidate or hide funds.
As one analyst noted, such movements often represent preparatory steps before liquidation or laundering attempts. The transactions have been flagged across multiple tracking platforms, and compliance groups are on high alert.
The LuBian Hack: A Case Study in Vulnerability
The LuBian incident remains a stark reminder of the vulnerabilities present within smaller mining pools. Investigations have highlighted significant flaws in the management of private keys and funds at LuBian, which facilitated the hack. While the identities of the perpetrators remain largely unknown, law enforcement agencies have been tight-lipped regarding any updates.
Surveillance of New Wallets
Currently, the four wallets receiving the stolen bitcoin have not initiated any further transactions. However, analysts anticipate that these wallets may soon interact with exchanges or decentralized services, potentially revealing new clues about the hackers’ intentions.
The use of mixers or synthetic assets could further complicate efforts to trace the origins of these funds. Blockchain analytics firms are actively flagging transactions involving known stolen assets to prevent their entry into regulated financial platforms.
As the crypto industry enhances its efforts to trace stolen digital assets, particularly large movements from notorious thefts, the monitoring of these destination wallets will continue to be a priority in the weeks ahead.
