scam

 

📰 Summary of the Event

China’s National Computer Virus Emergency Response Center (CVERC) and a state-affiliated cybersecurity firm accused the U.S. government of being behind the 2020 theft of about 127,272 Bitcoin (worth roughly $13 billion USD at current prices) from a Chinese-linked crypto mining pool called LuBian.

According to CVERC’s report, the theft bore the hallmarks of a “state-level hacking operation” led by the United States. They claimed the Bitcoin wallet movements were “silent and prolonged,” resembling government seizures rather than ordinary criminal activity.

The U.S. Department of Justice (DOJ), however, has said the seized Bitcoin is linked to Cambodian businessman Chen Zhi, chairman of Prince Group, who was indicted in October 2025 for online fraud and money-laundering schemes. The DOJ did not specify exactly when or how the assets were taken but confirmed the U.S. had seized a large amount of cryptocurrency associated with Chen’s network.

🔗 Verified and Reputable Sources

1. Bloomberg – “China Accuses U.S. of Orchestrating $13 Billion Bitcoin Hack”
   → Summarizes CVERC’s allegations and notes this adds new tension to U.S.–China cyber relations.
   👉 bloomberg.com
2. CoinDesk – “China Accuses U.S. of Stealing 127K BTC in 2020 LuBian Hack”
   → Details the CVERC statement and includes blockchain-forensic commentary from industry analysts.
   👉 coindesk.com
3. Global Times (China) – Chinese state-media publication citing the CVERC technical bulletin claiming U.S. hackers used “government-grade cyber tools” to steal the LuBian Bitcoins.
   👉 globaltimes.cn
4. U.S. Department of Justice (DOJ) – Press Release, October 2025:
   Charges filed against Chen Zhi and others in connection with online fraud and crypto-laundering schemes.
   👉 justice.gov
5. U.S. Treasury (OFAC) – Press Statement, October 2025:
   Sanctions against Prince Group and affiliated entities for large-scale financial crimes.
   👉 home.treasury.gov
6. Elliptic Analytics Report – Blockchain forensic company’s analysis showing that the 127 K BTC was associated with the LuBian mining pool hack in 2020 and that later wallet movements matched U.S.-linked seizure patterns.
   👉 elliptic.co

⚖️ Context and Analysis

• China’s claim: The U.S. orchestrated the hack to steal assets belonging to Chinese nationals, presenting it as an anti-crime seizure.
• U.S. position: The seizure was a lawful forfeiture linked to an international criminal case involving Chen Zhi’s network.
• Independent data: Blockchain forensics confirm a 2020 breach of the LuBian pool, but cannot prove whether state actors or hackers were responsible.
• Political backdrop: This comes amid a series of mutual hacking accusations — e.g., U.S. allegations of Chinese intrusions into Microsoft Exchange servers and China’s claims that the U.S. attacked its National Time Service Center.