China’s prime cyber protection company has instructed that america might have performed a task within the large 2020 hack of LuBian, a now-defunct Chinese language Bitcoin mining pool, calling it some of the refined and politically charged cyber incidents in crypto historical past.
In a report launched Sunday, the Chinese language Nationwide Pc Virus Emergency Response Heart (CVERC) alleged that the U.S. gained management of 127,272 BTC – value roughly $14.5 billion – stolen from LuBian. The discovering comes simply weeks after the U.S. Division of Justice filed a civil forfeiture criticism to formally seize these belongings in a case linked to Prince Group founder Chen Zhi, who was reportedly the unique proprietor of the Bitcoin.
U.S. Custody Earlier than Formal Seizure
Based on China’s evaluation, the U.S. authorities was already holding the funds properly earlier than submitting the forfeiture declare in October 2025. CVERC cited blockchain knowledge from Arkham Intelligence, which confirmed that almost 120,576 BTC was transferred from an handle marked “LuBian.com Hacker” to at least one labeled “U.S. Authorities: Chen Zhi Seized Funds” on July 5, 2024 – over a 12 months earlier.
The company famous that the stolen Bitcoin had remained untouched for almost 4 years, claiming such lengthy dormancy was “inconsistent with the habits of typical hackers” in search of revenue. As an alternative, CVERC argued, it instructed a “coordinated operation” extra typical of a state-linked actor.
Blockchain Pleas Ignored
The report additionally revealed that Chen Zhi and Prince Group despatched a number of small Bitcoin transactions – every value round $23 – to the hacker’s handle over a number of years, embedding messages pleading for the return of the stolen funds and providing a reward. Not one of the messages had been ever answered.
CVERC’s claims add a geopolitical twist to what was already thought of the biggest Bitcoin theft ever recorded. The case now sits on the intersection of cybercrime, worldwide regulation, and international crypto politics, as each nations proceed to place themselves strategically within the digital asset area.
Political Undercurrents
On the time of the report, the LuBian-linked Bitcoin represents roughly 39% of all BTC held in wallets related to the U.S. authorities, in response to Arkham.
The controversy additionally comes amid rising rhetoric from U.S. President Donald Trump, who not too long ago claimed the U.S. was “far forward of China” in crypto adoption, whereas acknowledging that Beijing is now “stepping into it in a really large manner.”
Whether or not CVERC’s claims maintain weight stays unsure, however the episode underscores the deepening technological and monetary tensions between the world’s two largest economies – now extending firmly into the blockchain realm.
