China’s cybersecurity agency has questioned the United States’ role in a large Bitcoin
The Chinese National Computer Virus Emergency Response Center (CVERC) released a report claiming the US government may have been involved in handling the stolen digital assets.
The case involves 127,272 Bitcoin taken from LuBian in December 2020. For several years, the incident received little attention.
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According to CVERC, the US government had already been keeping the funds before officially moving to seize them in October 2024.
The Department of Justice confirmed it was holding around $14.5 billion in Bitcoin. The agency called it the “largest forfeiture action” in its history.
Blockchain data shared by Arkham shows that on July 5, 2024, nearly all the stolen Bitcoin, 120,576 BTC, was transferred from an address labeled “LuBian.com Hacker” to one marked “US Government: Chen Zhi Seized Funds”.
CVERC said the stolen Bitcoin had been inactive for about four years before this transfer. It suggested that the transfer appeared to be a planned action rather than the work of regular hackers.
The report also noted that Chen Zhi and his company, Prince Group, attempted several times to reach the hacker via small Bitcoin transactions worth about $23 each. They offered rewards and asked for the return of the funds, but never received a response.
Meanwhile, the Security Alliance (SEAL) recently launched a tool to support those investigating crypto-related phishing scams. How does it work? Read the full story.
