CVERC alleges U.S. authorities took control of stolen BTC from 2020 LuBian mining pool attack, escalating geopolitical tensions
China has accused the United States of unlawfully seizing 127,000 Bitcoin (worth roughly $13 billion) that were allegedly stolen from a Chinese mining pool during a 2020 cyberattack. The claim, made by the National Computer Virus Emergency Response Center (CVERC), reignites one of the largest unresolved incidents in the history of cryptocurrency theft.
In a technical report released Sunday, the CVERC asserted that the U.S. Department of Justice seized digital assets originally hacked from the LuBian mining pool, suggesting the operation was conducted by a “state-level hacking organization.”
The Chinese agency’s statement, published via state-affiliated media, accuses U.S. entities of “repurposing criminal operations for geopolitical ends.” According to the report, the same hacking tools used in the LuBian breach were later detected in a network that moved the coins to wallets now linked to U.S. government control.
Four-Year Trail of Digital Evidence
For nearly four years, the stolen Bitcoin remained dormant on the blockchain — a silence that puzzled cybersecurity experts. Then, in mid-2024, the entire stash moved through multiple intermediary wallets, with blockchain analytics firms like Arkham Intelligence identifying the destination addresses as belonging to U.S. government holdings.
“This pattern indicates a controlled transfer rather than a criminal liquidation,” CVERC said, implying the seizure was part of a larger covert operation involving the same actors responsible for the original theft.
Washington Disputes Allegations
The U.S. Department of Justice has disputed China’s version of events, insisting that the Bitcoin seizure was “a lawful recovery of criminal proceeds” tied to international fraud networks. Officials have not directly addressed the claim that the seized coins originated from Chinese assets.
Analysts warn the incident could further strain U.S.–China cyber relations, already tense over hacking accusations and digital espionage. “If validated, this case could redefine the boundaries of cyber sovereignty in digital finance,” said one cybersecurity expert.
As of now, both governments remain silent on whether direct diplomatic discussions over the disputed Bitcoin have taken place.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.