2020 Bitcoin Scam: Critical Movements of 1.8 Billion Dollars

Recently, the movement surrounding Bitcoin (BTC) has drawn attention. According to on-chain data, wallets linked to the Lubian pool transferred a total of 15,959 Bitcoin (approximately $1.83 billion) to four different addresses. This development has sparked significant curiosity among crypto investors.

On-chain analysis platform OnchainLens reported that wallets belonging to the Lubian mining pool, which came to prominence due to hacking allegations in 2020, have become active again. The relevant data shows that these wallets performed transfers to two addresses of 4,999 Bitcoin (each approximately $539.7 million), while transferring 3,424 Bitcoin (approximately $369.7 million) and 2,535 Bitcoin (approximately $274.3 million) to the other two addresses, respectively. The fact that these transactions were carried out in a completely coordinated manner draws attention.

Lubian became notorious in 2020 due to a significant loss of 127,426 Bitcoin during an event that was initially announced as a “hack attack,” which was later assessed as a misappropriation plan organized by an individual named Chen Zhi. In the following years, U.S. officials managed to track some of these funds, gaining access to the relevant private keys and seizing them.

Even five years later, the Lubian case is still considered one of the largest scams in the crypto world. The value of the Bitcoin stolen in 2020 was approximately $3.5 billion at the time, while its current value exceeds $14.5 billion. This situation is of great significance for both investors and market analyses.

Analysts are closely monitoring the on-chain movements to determine whether the transferred 15,959 Bitcoin will be sent to exchanges or washed in mixer services. Investors must closely follow these developments and analyze market movements as it is critical.