The Chinese National Cybersecurity Agency accused the US government of stealing 127,000 bitcoins, valued at $13 billion at the current exchange rate. This incident, related to the hacking of a mining pool in 2020, underscores the growing tensions in geopolitical conflicts around crypto assets.
In December 2020, LuBian mining pool, owned by Prince Group founder Chen Zhi, fell victim to a massive hacker attack. Hackers stole about 127,272 BTC, worth $3.5 billion at that time, and over $13 billion by now. The attack led to the closure of the pool and the loss of more than 90% of its assets, significantly undermining China's position as a leader in global bitcoin mining.
According to China's National Computer Virus Emergency Response Center (CVERC), the stolen coins remained untouched for nearly four years. LuBian sent over 1,500 messages to the hackers with offers to return the assets and discuss a reward, but no response was received.
In a new technical analysis from CVERC, published by the state publication Global Times, it is claimed that the US used hacking methods to steal bitcoins back in 2020. Experts from the center tracked the path of the coins and found that the assets confiscated in October 2025 are identical to those stolen from LuBian.
The analysis of the sources of funds refutes the US Department of Justice's allegations: about 17.8 thousand BTC were mined, 2,300 were received as pool payouts, and 107.1 thousand were obtained from exchanges and legal sources. This contradicts Washington's assertion of the 'criminal' nature of all the funds.
In June 2024, the coins were transferred to a new wallet, and in October, the US Department of Justice accused Zhi of managing underground call centers, coercion into fraud, and torturing employees. According to American authorities, the confiscated bitcoins are part of the criminal proceeds stored in non-custodial wallets.
Crypto detective ZachXBT noted that the wallet addresses with the stolen funds appeared in compromised keys lists two years ago. "Either the authorities themselves were involved in the hack, or they were given access," he said, highlighting the risks to blockchain security.
This scandal echoes recent US actions: in March 2025, the Secret Service seized the domains of the Garantex exchange and froze $26 million in assets, accusing the platform of laundering and sanction violations.
Geopolitical Context: China's accusations increase tensions in the crypto sphere, where blockchain becomes a tool of cyber warfare.
Risks for Miners: Hacks such as LuBian's underline pool vulnerabilities; crypto attack losses in 2025 exceeded $3.1 billion (according to Hacken data).
Blockchain Transparency: CVERC tracing shows how public ledgers aid investigations but do not protect from state threats.
As a crypto market analyst, I note: this incident may trigger new regulatory barriers for cross-border transfers, intensifying market fragmentation. Investors are advised to diversify asset storage outside vulnerable pools.