China Claims US Behind $13 Billion Bitcoin Heist
So here’s a story that’s been making waves in the crypto world. China’s cybersecurity agency, the National Computer Virus Emergency Response Center, has accused the U.S. government of orchestrating one of the largest Bitcoin thefts in history—about $13 billion worth of Bitcoin. This hack, which happened back in December 2020, targeted the LuBian Bitcoin mining pool and involved the theft of 127,272 Bitcoins. According to China, this wasn’t your typical cybercrime—it’s being described as a state-level hacking operation, with evidence suggesting careful planning and precision rather than ordinary criminal behavior.
The timeline of events is quite striking. After the hack, the stolen Bitcoin remained untouched for nearly four years. This is unusual because most stolen crypto is quickly liquidated. During this time, the victim, Chen Zhi, the chairman of Cambodia’s Prince Group, repeatedly posted messages on the blockchain asking for the Bitcoins to be returned and even offered a ransom. The hackers, however, never responded. It wasn’t until mid-2024 that the coins were quietly moved to new wallets, which blockchain tracking firm Arkham later identified as being controlled by the U.S. government. Then, in October 2025, the U.S. Department of Justice announced charges against Chen Zhi and claimed to have seized the 127,000 Bitcoins, linking them to him and the Prince Group.
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The report also sheds light on systemic vulnerabilities in the crypto ecosystem, particularly around random-number generation and wallet security. Suggestions to prevent future breaches include using multi-layered defenses like multi-signature protocols, cold storage, secure key generation, and real-time monitoring systems for mining pools. For individual users, the warning is clear: even with blockchain’s transparency, weak security can still lead to catastrophic losses.
The entire incident has fueled tensions between the U.S. and China, highlighting not just the high stakes of cryptocurrency but also the intersection of cyber warfare, international relations, and financial technology. For anyone in crypto, this is a vivid reminder that while digital currencies offer incredible opportunities, they also carry enormous risks—especially when geopolitics enters the mix.
In short, the LuBian hack is more than just a crypto heist. It’s being painted as a carefully executed, state-level operation with repercussions that go far beyond stolen coins, serving as a cautionary tale for the future of digital assets worldwide.
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