Beijing has leveled a striking accusation against the US government, claiming that Washington stole roughly $13 billion worth of Bitcoin. According to China’s National Computer Virus Emergency Response Center, the case involves what it describes as a state-sponsored hacking operation carried out in December 2020. The attack allegedly resulted in the theft of 127,000 Bitcoins from LuBian, one of the world’s largest cryptocurrency mining pools.
Chinese authorities argue that both the nature and execution of the incident strongly suggest a government-backed operation. Analysts note that the slow and cautious movement of the stolen assets stands in stark contrast to typical criminal behaviour. Instead, it resembles techniques commonly associated with intelligence-driven attempts to obfuscate digital traces.
According to the report, the stolen LuBian Bitcoins were later linked to cryptocurrency assets ultimately seized by the US government. Washington claims that these tokens belonged to Chen Zhi, the chairman of Cambodia’s Prince Group. Chinese commentators interpret this as an indirect acknowledgment, suggesting that US authorities may have possessed the technical capabilities required for such an operation as early as 2020.
The US Department of Justice has since launched a civil forfeiture action targeting the 127,000 Bitcoin, marking the largest confiscation effort in American history. Notably, federal prosecutors declined to explain how they obtained control over the assets. The Chinese report characterizes the episode as a classic “black-on-black” operation executed by a state-run hacking apparatus.
The accusation injects a new layer of tension into an already escalating rivalry between Washington and Beijing. This rivalry is centered on cybersecurity, digital infrastructure, and the geopolitics of cryptocurrency.
