Chinese Cybersecurity Watchdog Alleges US Stole $13.2B in Bitcoin Five Years Ago

The China National Computer Virus Emergency Response Center (CVERC) has accused the U.S. government of unlawfully seizing 127,271 BTC, valued at approximately $13.2 billion, which they claim originated from a mining pool hack in December 2020. This Bitcoin was allegedly linked to Chen Zhi, a Cambodian businessman accused of running crypto scams. The CVERC argues that the seizure was misrepresented as a result of criminal activities, when in fact it was part of the hack. After the theft, there were reports of ransom attempts made by Chen's team, and the funds remained inactive for four years before being moved in 2024 to wallets identified as U.S.-controlled. Further analysis suggests the funds may have been stolen by hacking methods employed by U.S. authorities at the time of the breach. This claim raises significant questions regarding the legal and ethical implications of how seized cryptocurrency is handled by governments.

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