China’s cybersecurity agency accused the U.S. of seizing $13 billion in bitcoin tied to a 2020 mining pool hack, challenging DOJ claims that the funds were lawfully confiscated.
China’s National Computer Virus Emergency Response Center (CVERC) has reportedly accused the U.S. government of stealing around $13 billion in bitcoin that was originally hacked in 2020 from the Chinese mining pool LuBian.
According to a Global Times report, the Chinese agency claims the hack was conducted by a “state-level hacking organization” and that the delayed movement of bitcoin pointed to government involvement.
The 127,271 BTC stolen in the hack were dormant for nearly four years until mid-2024 when they were moved to wallets identified by blockchain analysts as belonging to the U.S. government.
The U.S. Department of Justice (DOJ) had claimed in an Oct. 14 indictment that the BTC seizure was a part of legitimate law enforcement action targeting criminal proceeds, specifically related to Chen Zhi, chairman of Cambodia’s Prince Group, who is under U.S. indictment for alleged crypto fraud.
The CVERC report’s preliminary findings contradict the DOJ’s claims that all funds originated from illegal proceeds.
Last month, blockchain security firm Elliptic noted in a report that “it remains unclear” how those bitcoins came to be in U.S. custody.
“It’s also unclear who ‘stole’ the bitcoins from Chen/LuBian or whether a theft really took place,” said Elliptic.
