“Largest Crypto Heist in History: $3.5 Billion Bitcoin Hack Revealed by Arkham Intel Sparks Calls for Increased Security Measures”

A recent report by Arkham Intel reveals a $3.5 billion Bitcoin heist from 2020 conducted on Chinese mining pool LuBian which remained undisclosed for years. The hacking incident, affecting 127,426 Bitcoins, is deemed the largest cryptocurrency hack ever. The hackers exploited a vulnerability in LuBian's private key generation algorithm. The stolen Bitcoin, now valued at around $14.5 billion, stresses the importance of robust security measures and secure key management in the crypto space. The LuBian hack surpasses other notable hacks like the ByBit exchange breach and an elder individual losing $330 million in Bitcoin due to a social engineering scam. These incidents shed light on the necessity for stringent cybersecurity practices in the crypto industry.

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