China Accuses the US of $13 Billion Bitcoin Theft

China's cybersecurity agency has accused the U.S. government of stealing approximately $13 billion worth of Bitcoin. This marks the latest example of China's efforts to attribute significant cyberattacks to the U.S.

The accusation pertains to 127,272 Bitcoin tokens stolen from the LuBian Bitcoin mining pool in December 2020, which is recorded as one of the largest cryptocurrency heists in history. The China National Computer Virus Emergency Response Center claims that this cyberattack was potentially carried out by a 'state-level' hacking operation from the U.S.

In a report published last week, Chinese authorities suggested that the quiet and delayed movement of the stolen Bitcoin points to a government-level action rather than typical criminal behavior. The report stated that the Bitcoin stolen from LuBian is linked to tokens mined from what was once one of the largest Bitcoin mining operations in the world.

The U.S. government revealed that the seized tokens are associated with Chen Zhi, the head of Kambodia's Prince Group. The report noted, "The U.S. government may have used hacking techniques to steal the 127,000 Bitcoin held by Chen Zhi as early as 2020. This is a classic 'black, black eats' operation organized by a state-level hacker organization."

The Department of Justice initiated a civil forfeiture case to seize 127,271 Bitcoin, making this the largest seizure action in U.S. history. Federal prosecutors involved in Chen's case refrained from commenting on how they seized the Bitcoin.