Recent Bitcoin Movements
LuBian, the mining pool identified as the rightful owner of over 127,000 Bitcoins recently seized by the US Department of Justice (DOJ), has once again moved billions of dollars worth of BTC. This activity follows a significant transfer of $1.1 billion worth of Bitcoins to new wallets, marking the first movement from the LuBian Mining wallet in three years.
Following a week-long pause in activity, the wallet associated with LuBian transferred an additional $1.8 billion in BTC to newly established addresses. According to OnchainLens, an address linked to the Bitcoin mining pool LuBian moved 15,959 BTC, valued at approximately $1.83 billion, across four distinct new wallets.
- •4,999K BTC, valued at $539.76 million, was transferred to the bc1qs8 wallet.
- •4,999K BTC, valued at $539.76 million, was transferred to the 3JX2dH wallet.
- •3,424K BTC, valued at $369.7 million, was transferred to the 1cpnxU wallet.
- •2.535K BTC, valued at $274.36 million, was transferred to the 1G9FZS wallet.
The emergence of these LuBian-linked wallets is notable, occurring just days after the US government confiscated more than 127,000 Bitcoins that were stolen from LuBian.
Background of the Seizure and Transfers
Previously, one of the LuBian wallets, identified as 39DUz, moved its entire holdings of 9,757 BTC, valued at $1.1 billion, after remaining inactive for three years. These Bitcoins were distributed to two new addresses.
This significant transfer occurred just one day after reports surfaced that the US government had seized LuBian's stolen assets, totaling 127,271 BTC and worth $14.4 billion.
LuBian Mining experienced a rapid rise in early 2020, quickly establishing itself as one of the leading Bitcoin mining pools. Despite its swift growth, the pool was targeted in a hack in December 2020, resulting in the theft of 127,000 BTC. The individuals responsible for this theft have not been identified.
One of LuBian's wallets, which had seemingly disappeared in early 2021, was discovered and subsequently seized by US authorities a day later. This seizure represents the largest Bitcoin confiscation by the US to date.