China accuses the United States of stealing $13 billion worth of 127,426 Bitcoin.

China has accused the US of stealing 127,000 Bitcoin (BTC) worth more than $13 billion. The LuBian mining pool hack in 2020 is the main focus of the claim.

Approximately 127,426 BTC, or almost $3.5 billion, were removed from the pool’s hot wallet at that moment.

According to Beijing’s National Computer Virus Emergency Response Center (CVERC), external hackers were not responsible for the heist. Rather, the CIA described it as a “state-level operation” that was purportedly planned by American intelligence.

The current value of the confiscated Bitcoin is around $13.3 billion. The move adhered to conventional legal procedures, according to the U.S. Department of Justice. China nevertheless referred to the action as “state-level cyber theft.” According to analysts, the conflict has escalated from a legal issue to a significant geopolitical impasse.

The seized bitcoin would have been worth more than $16 billion on October 6, 2025, when it reached an all-time high of more than $126,000.

The price of bitcoin has been erratic lately. The cryptocurrency was down 1.8% during the course of a day, trading close to $103,474. Bitcoin Magazine Pro data shows that it hit an intraday high of $107,355 and a low of $104,251.

Approximately 0.65% of the total Bitcoin supply is represented by the disputed stash. This might increase long-term valuations by tightening circulating liquidity. However, institutional demand doesn’t change. Large investors’ confidence is indicated by the ongoing inflows into Bitcoin ETFs.

Hacking LuBian Bitcoin

In December 2020, the LuBian hack took place. In less than two hours, hackers depleted the pool of around 127,000 Bitcoin.

Blockchain forensics suggest the breach stemmed from weak private key generation, not a typical external hack. Additionally, analysts have observed a “dormancy phase” during which the coins were unused for almost four years.

Bitcoin was transferred to new wallets in 2024, which tracking companies subsequently discovered were under U.S. government control. This is seen by Beijing as evidence of a well-planned, state-level effort.
The chairman of Cambodia’s Prince Group, Chen Zhi, is accused of cryptocurrency fraud, and the United States frames this as part of an anti-fraud campaign.

According to on-chain analysis, the currencies were inactive for years before being combined into wallets that are currently recognized as being under U.S. government control.

Weak random number creation makes these wallets susceptible to brute-force assaults, according to technical findings like CVE-2023-39910.

Since then, the U.S. Department of Justice has initiated forfeiture actions, alleging that the bitcoin that was confiscated was obtained through illegal means.