Key Takeaways
- CVERC claims the U.S. hacked LuBian mining pool, stealing 127K BTC.
- The DOJ confirms it holds the same amount, seized from Chen Zhi.
- The dispute underscores global competition over Bitcoin reserves.
China Alleges U.S. Government Behind 127K BTC Theft
China’s National Computer Virus Emergency Response Center (CVERC) has accused the U.S. government of stealing 127,272 Bitcoin from the LuBian mining pool. The accusation follows a recent revelation by the U.S. Department of Justice (DOJ) that it currently holds the same amount of Bitcoin, which it claims to have seized from Chen Zhi, the Cambodian businessman behind Prince Group.
Also Read: How to Buy Bitcoin (BTC) with a Credit Card in 2025: Best Wallets & Exchanges
According to Global Times, CVERC alleges that a state-level hacking organization—linked to the U.S.—carried out the 2020 cyberattack on LuBian. The stolen Bitcoin, dormant for years, reportedly resurfaced in 2024 under an address tagged by Arkham Intelligence as controlled by the U.S. government.
DOJ Forfeiture Fuels Speculation
The DOJ recently filed a forfeiture order for 127,271 BTC, asserting the assets were proceeds from a “pig butchering” scam involving Zhi. However, the agency did not disclose how it obtained access to the funds, raising questions about whether the U.S. had any direct role in the LuBian breach.
While no concrete evidence supports CVERC’s hacking claim, the coincidence between the seized amount and the hacked funds has intensified scrutiny. The incident highlights the complex intersection between cybersecurity, law enforcement, and international crypto asset control.
Global Battle for Bitcoin Dominance
The accusation comes amid intensifying competition among nations to build strategic Bitcoin reserves. The U.S. currently holds approximately 326,588 BTC—partly from law enforcement seizures—while China retains about 190,000 BTC from past mining confiscations.
Also Read: Altcoin Surge as Bitcoin Dominance Declines
Under President Donald Trump, the U.S. has embraced a pro-crypto stance, with Congress drafting a comprehensive market structure bill. Senator Cynthia Lummis’s proposed BITCOIN Act aims to formalize a national Bitcoin reserve, mirroring moves by other countries like Brazil and Kyrgyzstan.
As geopolitical tensions merge with digital asset strategy, the CVERC allegations underscore how Bitcoin is no longer just a speculative asset—it’s a tool of economic influence and national power.
Conclusion
China’s CVERC’s claim against the U.S. adds a new layer to the ongoing battle for crypto dominance. Whether true or not, the accusation highlights Bitcoin’s shifting role—from digital gold to a geopolitical asset shaping the future of financial sovereignty.
