The Chinese Cyber Emergency Response Center (CVERC) released a technical report stating that U.S. authorities appropriated 127,000 bitcoins stolen in December 2020 as a result of a hack of the Chinese mining pool LuBian.
At the current exchange rate, the value of the cryptocurrency exceeds $13 billion.
According to CVERC, LuBian belonged to the Prince Group holding, founded by businessman Chen Zhi. The report states that the attack was carried out using tools characteristic of a 'state-level organization'.
The stolen funds remained untouched for almost four years and were only transferred to new addresses in 2024. Later, Arkham analysts identified them as belonging to the U.S. government.
In October 2025, the U.S. Department of Justice announced the initiation of criminal proceedings against Chen Zhi on charges of cryptocurrency fraud and announced the seizure of 127,000 bitcoins linked to his structure. At that time, experts noted that the cryptocurrency could have been obtained as a result of hacking.
The Chinese publication Global Times explicitly states that 'the U.S. government likely stole 127,000 bitcoins from Chen Zhi back in 2020, using hacking methods'.
The U.S. Department of Justice has not yet commented on the allegations.
