US EditionChina Accuses US Of $13 Billion Bitcoin 'State-Backed Crypto Heist'
China's cybersecurity agency alleges the U.S. seized $13 billion in bitcoin linked to a 2020 hack, disputing U.S. claims that the funds were criminal proceeds.
- On Sunday, China's National Computer Virus Emergency Response Center released a technical report alleging the U.S. Department of Justice seized 127,000 stolen bitcoin worth roughly $13 billion from a 2020 LuBian mining-pool hack.
- The hacked coins remained dormant for nearly four years, then in mid-2024 transfers linked to a U.S. government wallet were observed, according to a Chinese state-owned newspaper.
- Blockchain analysis firm Arkham identified wallets tied to the U.S. government after mid-2024 transfers, while Chinese state-affiliated outlets and CVERC traced the assets to Chen Zhi, chairman of Cambodia's Prince Group.
- Washington insists the move was legitimate law enforcement, while public comment remains limited as the U.S. Department of Justice and U.S. Treasury have not publicly responded and CoinDesk reports unanswered outreach.
- Analysts say the episode marks a new flashpoint in digital-asset tensions between Washington and Beijing as Beijing tightens crypto rules and U.S. agencies increase enforcement.
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17 Articles
The so-called “richness God” is accused of orchestrating a scheme that has defrosted about 128,000 people in China. The British authorities will learn 61,000 Bitcoins at the value of more than six billion...
China Accuses US Of $13 Billion Bitcoin 'State-Backed Crypto Heist'
China has accused the U.S. of taking $13 billion in Bitcoin (CRYPTO: BTC) linked to a 2020 hack, escalating a cross-border dispute that Washington says is simply a lawful seizure of criminal proceeds. China's Watchdog Links U.S. To 2020 Bitcoin Hack China's National Computer Virus Emergency Response Center (CVERC) alleged that the U.S. Department of Justice seized 127,000 Bitcoin originally stolen in a 2020 cyberattack on the LuBian mining pool.…
The Chinese Computer Emergency Response Centre (CVERC) has just claimed that the US government seized 127 000 bitcoins stolen during a 2020 hack, now valued at 13 billion dollars. What to rekindle the tensions between the two countries... Read more China accuses the United States of stealing 127 000 BTC during a hack appeared first on Cryptoast.
China Accuses U.S. of Secretly Seizing $13B in Stolen Bitcoin
Key Takeaways: China accuses the U.S. government of taking control of 127,000 stolen Bitcoins from the 2020 LuBian mining pool hack. The U.S. denies hacking involvement, saying the funds were seized legally in a fraud and money laundering case. Blockchain data shows wallet movements beginning in mid-2024, fueling speculation about early U.S. control. Analysts warn the $13 billion dispute could add geopolitical volatility to crypto markets. The …
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