China Accuses U.S. of Stealing 127K BTC in High-Profile Crypto Hack

China’s National Computer Virus Emergency Response Center (CVERC) has accused the U.S. government of seizing 127,000 stolen bitcoins, currently worth about $13 billion. This bitcoin was allegedly hacked from the LuBian mining pool in 2020, with the hack attributed to a state-level hacking organization. CVERC suggests that the U.S. seizure is linked to a larger operation by the same attackers. At the time of the hack, the stolen funds were associated with Chen Zhi, under U.S. indictment for a crypto fraud scheme. The hacked bitcoins remained untouched for nearly four years until they were transferred to new wallets in mid-2024. CVERC's analysis disputes the U.S. claim that the funds were mere criminal proceeds, implying instead that the seizure may represent the culmination of an ongoing operation by the perpetrators of the original hack. The U.S. government, however, insists that the seizure was a legitimate law enforcement action targeting illicit funds. This development has heightened tensions between China and the U.S. regarding cybersecurity allegations and cryptocurrency theft.

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