China’s cybersecurity agency just dropped a bombshell accusation: they’re claiming the US government orchestrated the theft of $13 billion worth of Bitcoin from the LuBian mining pool back in December 2020. The hack involved stealing 127,000 Bitcoin, making it one of the biggest crypto thefts ever recorded.
China’s National Computer Virus Emergency Response Center says the operation looks like it was carried out by state-backed American hackers. They point to how slowly and carefully the stolen Bitcoin was moved as evidence this was a government-level operation rather than regular criminals.
Here’s where things get weird. A report claims the stolen Bitcoin is somehow linked to tokens later seized by the US government. Those tokens were supposedly tied to Chen Zhi, head of Cambodia’s Prince Group, who got charged with wire fraud and money laundering in October.
The Chinese report alleges American hackers may have already stolen about 127,000 Bitcoins from Chen as early as 2020, calling it a “classic ‘black eats black’ operation orchestrated by a state-level hacking organization.”
Chen’s lawyer, Matthew Schwartz, is asking US courts for more time to trace the stolen Bitcoin. He says the government’s accusations against Chen are based on incorrect assumptions. Prosecutors confirmed Chen isn’t in US custody despite the charges. The US government has declined to comment on when or how they confiscated the Bitcoin.
Conclusion
China accuses the US government of orchestrating the December 2020 theft of 127,000 Bitcoin worth $13 billion from the LuBian mining pool, linking the stolen tokens to a later US seizure tied to Cambodian businessman Chen Zhi.
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