🚨 Lubian Mining Pool Shifts $1.83B Bitcoin - Market Braces for Impact

Another massive Bitcoin movement shakes the crypto space as Lubian Mining Pool transfers $1.83 billion worth of BTC. Market watchers hold their breath—is this the calm before the storm?

The Whale Watch

Lubian's latest transaction sends ripples across exchanges. That $1.83 billion position could reshape trading floors in minutes. Institutional desks scramble to reposition while retail traders eye exit strategies.

Market Mechanics

Miners moving coins typically signals operational needs—or strategic positioning. But when numbers hit ten figures, everyone pays attention. Liquidity providers adjust spreads, derivatives traders hedge exposure, and the entire ecosystem holds collective breath.

Historical Precedent

Remember when similar moves preceded 20% corrections? The market does. Yet sometimes these transfers just mean business as usual—another day in crypto's wild west where billion-dollar transactions get less scrutiny than your average bank transfer. Because apparently, that's how modern finance works now.

Whether this triggers a sell-off or just another blip on the radar, one thing's certain: in crypto, billion-dollar moves are Tuesday.

Largest Bitcoin Theft Ever Surfaces After Four-Year Dormancy

Blockchain analytics firm Arkham Intelligence revealed in August that 127,426 BTC, valued at $3.5 billion at the time and nearly $14.5 billion today, was stolen from LuBian in December 2020.

The theft exploited vulnerabilities in LuBian’s private key generation system through potential brute-force attacks.

The pool had risen quickly in early 2020, becoming the sixth-largest mining pool while promoting itself as “the safest high-yielding mining pool in the world.“

Attackers drained over 90% of LuBian’s BTC on December 28, 2020, followed by an additional $6 million in BTC and USDT the next day. By February 2021, LuBian had disappeared without explanation, fueling speculation of a regulatory shutdown.

A massive Bitcoin theft from 2020 has surfaced nearly four years later, and it's now being called the largest crypto heist ever uncovered. #Bitcoin #Hackhttps://t.co/5Qq5HqbUMn

Arkham’s investigation revealed the dramatic hack as the actual cause.

LuBian attempted to communicate with the attacker using Bitcoin’s OP_RETURN feature, writing “To the whitehat who is saving our asset, you can contact us… to discuss the return of asset and your reward.“

Most stolen coins remained dormant until July 2024, with 11,886 BTC worth roughly $1.35 billion still untouched in LuBian’s wallet.

UK-China Tensions Over $7.2B Bitcoin Seizure

In a separate but related seizure, the UK government proposed a compensation scheme for victims of Chinese investment fraud while seeking to retain the majority of a £5 billion ($7.2 billion) Bitcoin fortune seized from perpetrators.

The announcement was made during a High Court hearing in London on Wednesday, regarding 61,000 Bitcoin seized by police in 2018 from devices found at a mansion in Hampstead, now representing one of the largest cryptocurrency seizures in UK history.

UK proposes compensation for fraud victims while keeping most of £5B ($7.2B) Bitcoin seized in 2018 from 61,000 BTC as 130,000 victims contest government benefit.#Bitcoin #UKhttps://t.co/jXXgfWZagW

The case pits British authorities against approximately 130,000 Chinese investors who lost money in fraud orchestrated by Zhimin Qian between 2014 and 2017.

Bitcoin’s value has surged dramatically since the 2018 seizure, climbing from approximately $1.8 billion to its current $7.2 billion valuation.

Authorities also recently obtained access to additional cryptocurrency assets worth about £67 million from Qian.

Qian and Malaysian associate Seng Hok Ling pleaded guilty to money laundering charges last month and are scheduled to face sentencing in November.

Dump on BTC: How Would the Market React?

With hackers and the government potentially looking to sell, it is uncertain what the aftermath will look like for BTC.

On the technical level, Bitcoin currently faces technical pressure after reversing Monday’s 3.5% pump, dropping from $114,000 back to the $107,000-$108,000 support zone.

The pullback has left traders watching the upcoming U.S. Consumer Price Index data on October 24 for directional cues.

Consensus expectations sit at 3.1%, but after six consecutive months of rising inflation readings, investors fear another upside surprise could unsettle risk markets.

Bitcoin’s chart shows the asset testing support NEAR $112,000, with the projected trajectory suggesting a potential rebound toward $117,000 if support holds.