• China’s CVERC accused the US of a US$13B (AU$19.89B) Bitcoin theft from the LuBian mining pool in 2020, calling it a “state-level hacker operation.”
  • The seized funds had been later linked to the DOJ’s case in opposition to Chinese language businessman Chen Zhi, whereas the US claimed they had been legal proceeds.
  • The dispute has intensified US–China tensions over cyber operations and digital asset management.

China’s Nationwide Pc Virus Emergency Response Heart (CVERC) has accused the United States of conducting a large-scale Bitcoin theft value roughly US$13 billion (AU$19.89 billion) from the LuBian mining pool in 2020. The company described the operation as a “state-level hacker operation” allegedly directed by the US authorities.

In accordance with Bloomberg and state media experiences, LuBian was a Chinese language-based mining pool that misplaced about 127,000 BTC through the December 2020 breach, an occasion later flagged by Arkham Intelligence as one of many largest crypto heists recorded. 

CVERC asserted that the stolen belongings corresponded to the Bitcoin later confiscated by the US Division of Justice (DOJ) in its investigation into Chinese language businessman Chen Zhi of Cambodia’s Prince Group, who has been charged with wire fraud and cash laundering.

The CVERC report claimed that the hack used subtle, automated software program and uniform transaction charges – hallmarks it stated pointed to an organised cyber operation. It additional alleged that the funds’ lengthy dormancy earlier than being transferred to new wallets in mid-2024 was in line with state involvement. Blockchain analytics agency Arkham recognized these wallets as being underneath US authorities management.

Associated: Judge Denies Justin Sun’s Bid to Block Bloomberg Report on Crypto Holdings

American authorities, nevertheless, view the Bitcoin as legal proceeds tied to Chen Zhi’s alleged fraud schemes, not state hacking. Blockchain forensics companies Arkham, MilkSad and Elliptic additionally reported that LuBian’s compromise stemmed from weak random-number technology moderately than any US operation.

Chinese language analysts countered that a few of the confiscated Bitcoin got here from reputable sources, together with roughly 17,800 BTC from private mining and a pair of,300 BTC from pool rewards. The dispute underscores deepening tensions between Beijing and Washington over digital asset governance and cross-border cybersecurity actions.

Associated: Crypto Streamer Battling Cancer Loses $31K to Hack, Community Rallies in Support

The submit China Accuses US of US$13B Bitcoin Heist in State-Sponsored Cyber Operation appeared first on Crypto News Australia.