LuBian Wallet Moves Over $1B in BTC After 3 Years of Inactivity: On-Chain Data

A wallet associated with LuBian, a significant Bitcoin mining pool that was hacked in December 2020, moved BTC on Wednesday, ending three years of dormancy.

The wallet labelled as “39DUz” moved 9,757 BTC, worth $1.1 billion, to two new addresses, “34kn9z…s9tef” and “bc1q4c…77s0,” respectively, according to analytics firms Peckshield and Lookonchain.

It remains unclear whether the recent moves to new addresses represent attempts to liquidate the coins or are simply attempts to transfer them to fresh wallets for security or operational reasons.

The movement of coins follows reports that the U.S. government is looking to forfeit LuBian’s stolen 127,271 BTC( $14.4B).

The US Department of Justice (DOJ) announced Tuesday the seizure of bitcoin worth $15 billion from Prince Group’s operation of forced-labor scam compounds across Cambodia. According to forensics firm Elliptic, these bitcoins were “stolen” in 2020 from LuBian.