China has levied serious allegations against the United States, asserting that American authorities executed one of the largest cryptocurrency thefts in history. According to a report from China’s National Computer Virus Emergency Response Center, U.S. officials purportedly seized more than 127,000 Bitcoin, valued at roughly $13 billion, from a Chinese mining pool in 2020.
The report designates this incident as a “state-level hacker operation,” emphasizing the methodical and covert tactics used, which sharply contrast with the more chaotic and opportunistic techniques typically associated with cybercriminals. The alleged theft reportedly took place from the LuBian mining pool in December 2020, at the time one of the largest cryptocurrency operations in China. This incident is positioned as one of the most significant thefts in the annals of digital currencies.
Significantly, the Chinese report suggests that the stolen Bitcoin was later found among crypto assets confiscated by U.S. authorities from Chen Zhi, the chairman of Cambodia’s Prince Group. Chen is currently facing allegations of fraud and money laundering linked to a substantial online scam network referred to as “pig butchering.” Chinese officials contend that the timing and scale of the seizures strongly indicate that the digital wallets associated with the LuBian theft are connected to the assets seized from Chen.
“Black eats black,” the report posits, an expression implying that one criminal entity exploits another. This characterization suggests that U.S. intelligence agencies may have targeted Chinese digital assets as part of a wider strategy of “technological and financial containment” against China.
While the claims made by the Chinese government have not been independently verified, they emerge amid escalating tensions between the U.S. and China concerning technology, trade, and cybersecurity. Over the past few years, both nations have exchanged accusations of state-sponsored hacking, espionage, and digital theft, contributing to a fraught geopolitical landscape.
As of now, there has been no official commentary from Washington on these serious allegations, and court documents relating to the case involving Chen Zhi do not clarify the origins of the seized cryptocurrency.
