China accuses the United States for stealing over 13 billion dollars worth of Bitcoin (BTC). The claims center around the 2020 hack of LuBian’s mining pool.
Around 127.426 BTC, worth around $3.5 billion, were removed from the hot wallet of the pool.
Beijing’s National Computer Virus Emergency Response Center CVERC (CVERC), said the theft wasn’t the work of external hackers. In fact, it was the agency. called The m “state-level operation” The alleged orchestration of the attack by U.S. Intelligence.
Bitcoins seized now total approximately $13.3 billion. Department of Justice of United States said The action was carried out in accordance with standard legal procedure. China still called it a “state-level cyber theft.” Analysts believe that this dispute has transformed a legal issue into a significant geopolitical conflict.
Bitcoins hit a record high all-time high of above The bitcoin seized on 6 October 2025 would be worth more than $16 billion.
Bitcoin has seen a recent price volatility. Cryptocurrency traded around $103,474, up 1.8% within 24 hours. Bitcoin Magazine Pro’s data shows that it hit an intraday low of $104,251 and high of $107355.
This amount represents approximately 0.65% of the total Bitcoin supply. This could reduce the amount of circulating cash, which would boost long-term values. But institutional demand is still steady. Bitcoin ETFs have continued to see inflows. This shows that large investors are confident.
CoinDesk reporting This article was written by a friend.
LuBian Bitcoin hack
The LuBian Hack occurred In December 2020. Hackers drain the pool from more than 127,000 BTC within two hours.
The breach was detected by blockchain forensics stemmed Not a hack from an outside source, but one that is based on faulty private key generation. Analysts noted that the attack was not a typical external hack. “dormancy phase” In which coins were left untouched for almost four years.
Beijing seized control of the Bitcoin in 2024. Beijing sees It is a sign of an organized, multi-state operation.
The U.S. views it as an anti-fraud campaign. connected Chen Zhi is the chairman of Cambodia’s Prince Group and faces U.S. accusations for an alleged crypto-fraud.
Analysis of the on-chain shows the coins remained inactive over years before they were consolidated and deposited into wallets that are now controlled by U.S. authorities.
Technical Reports including The CVE-2023-39910 indicates that the wallets are vulnerable to brute force attacks due to a weak random number generator.
Since then, the U.S. Department of Justice filed forfeiture proceedings, alleging that bitcoin seized was criminal proceeds.
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Source: bitcoinmagazine.com
