Lubian’s Silent Struggle: Arkham Exposes Critical Crypto Oversight Failures

Crypto's dirty little secret just got aired—and the stench is unbearable.

Arkham's latest report doesn't just expose gaps in oversight. It reveals a regulatory black hole swallowing retail investors whole.

Where were the watchdogs? Probably too busy chasing meme coins.

Lubian has muted meltdown

Despite losing nearly all of its Bitcoin holdings, Lubian never disclosed the incident, nor did the hacker ever publicize the theft. In a desperate recovery effort, Lubian issued over 1,500 small Bitcoin transactions containing pleas for the return of the stolen assets. The pool also moved its remaining 11,880 BTC into designated recovery wallets.

The hacker has not attempted to cash out the stolen coins, which remain idle apart from a 2024 consolidation into a new wallet address. Arkham’s report raises fresh concerns over transparency and operational security among major crypto infrastructure players—especially as billions in assets flow through centralized entities with limited oversight.

The discovery retroactively redefines the scale of crypto’s largest known heists and casts Lubian’s 2020 disappearance in a new, more troubling light. Investigations into the identity of the attacker and the precise vector of the exploit are ongoing.