China has accused the US of stealing 127,000 Bitcoin (BTC), price over $13 billion. The declare facilities on the 2020 hack of the LuBian mining pool.
On the time, roughly 127,426 BTC had been taken from the pool’s sizzling pockets, valued at round $3.5 billion.
Beijing’s Nationwide Pc Virus Emergency Response Heart (CVERC) mentioned the theft was not the work of outdoor hackers. As an alternative, the company referred to as it a “state-level operation” allegedly orchestrated by U.S. intelligence.
The seized Bitcoin now sits at roughly $13.3 billion. The U.S. Division of Justice mentioned the motion adopted customary authorized procedures. Nonetheless, China referred to as the transfer a “state-level cyber theft.” Analysts say the dispute has turned a authorized matter into a serious geopolitical standoff.
When Bitcoin hit an all-time excessive of above $126,000 on October 6, 2025, the seized bitcoin would have been price over $16 billion.
Bitcoin’s worth has been risky not too long ago. The cryptocurrency traded close to $103,474, down 1.8% in 24 hours. It reached an intraday excessive of $107,355 and a low of $104,251, in line with Bitcoin Journal Professional information.
The contested stash represents about 0.65% of whole Bitcoin provide. That might tighten circulating liquidity, doubtlessly boosting long-term valuations. But, institutional demand stays regular. Bitcoin ETFs proceed to point out inflows, signaling confidence amongst massive traders.
CoinDesk reporting helped with this text.
LuBian Bitcoin hack
The LuBian hack occurred in December 2020. Hackers drained the pool of greater than 127,000 BTC in underneath two hours.
Blockchain forensics recommend the breach stemmed from weak non-public key technology, not a typical exterior hack. Analysts have additionally famous a “dormancy part” through which the cash remained untouched for almost 4 years.
In 2024, the Bitcoin was moved to new wallets, later recognized by monitoring companies as managed by the U.S. authorities. Beijing sees this as proof of a coordinated, state-level operation.
The U.S. frames it as a part of an anti-fraud crackdown, related to Chen Zhi, chairman of Cambodia’s Prince Group, who faces U.S. prices for alleged crypto fraud.
On-chain evaluation reveals the cash had remained inactive for years earlier than being consolidated into wallets now recognized as managed by the U.S. authorities.
Technical stories, together with CVE-2023-39910, point out that weak random quantity technology made these wallets weak to brute-force assaults.
The U.S. Division of Justice has since filed forfeiture actions, claiming the seized bitcoin represents legal proceeds.
