Story perspectives

US Seizes $13 Billion Bitcoin Amid Cyber Tensions

11/12/2025

Summary

Story summary

In December 2020, 127,000 Bitcoin, worth about $13 billion, were allegedly stolen from the LuBian mining pool.
China's National Computer Virus Emergency Response Center (CVERC) claims the United States orchestrated the hack and involved state actors.
The U.S. Department of Justice says the Bitcoin was legally seized in a criminal investigation tied to Chen Zhi, a Cambodian national.
The dispute highlights rising cyber tensions and the geopolitical implications of cryptocurrency.

History

Historical Context

The 2014 Mt. Gox hack, which resulted in the loss of 850,000 Bitcoins valued at around $450 million, exposed significant vulnerabilities in cryptocurrency security. This incident followed the U.S. government's regulatory actions on virtual currencies, beginning in 2013. The recent theft from LuBian, allegedly by U.S. state actors, highlights ongoing geopolitical tensions and the evolving landscape of cryptocurrency governance.

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Story summary

In December 2020, 127,000 Bitcoin, worth about $13 billion, were allegedly stolen from the LuBian mining pool.
China's National Computer Virus Emergency Response Center (CVERC) claims the United States orchestrated the hack and involved state actors.
The U.S. Department of Justice says the Bitcoin was legally seized in a criminal investigation tied to Chen Zhi, a Cambodian national.
The dispute highlights rising cyber tensions and the geopolitical implications of cryptocurrency.

1 / 2