China alleges U.S. role in 2020 LuBian bitcoin heist as DOJ cites record seizure linked to Cambodia scam boss
China’s cybersecurity watchdog has accused the United States of orchestrating the theft of about 127,000 bitcoin from the LuBian mining pool in December 2020, a haul now valued at roughly 13 billion dollars. The National Computer Virus Emergency Response Center said the operation bore the hallmarks of a state actor and connected the funds to bitcoin later seized by U.S. authorities.
The allegation follows a reexamination of the LuBian breach, which was among the largest crypto thefts on record. The theft saw around 127,000 bitcoin drained from LuBian’s wallets at the end of 2020, when the pool was one of the biggest contributors to Bitcoin’s global hashrate.
Chinese authorities argue that the quiet and delayed movement of the stolen coins is more consistent with a government operation than typical criminal behaviour. Their analysis links the hacked LuBian coins to addresses associated with bitcoin later taken under control by U.S. prosecutors. The report has intensified a wider geopolitical dispute over cyber operations and cryptocurrency enforcement.
U.S. officials announced a civil forfeiture against approximately 127,271 bitcoin tied to Cambodian businessman Chen Zhi and the Prince Group. The Department of Justice described the case as its largest crypto forfeiture and part of a crackdown on alleged “pig butchering” cyber fraud networks based in Cambodia. Prosecutors have not publicly detailed how they gained control of the wallets.
Market watchers have noted further movements from wallets linked to LuBian in recent weeks, adding to speculation around the provenance and control of the funds. The overlap between the Chinese attribution and the U.S. forfeiture has fuelled debate about attribution standards and the transparency of government seizures.
As of mid-November, Washington has not addressed Beijing’s specific claim that a U.S. state actor carried out the original 2020 hack. China’s report frames the episode as a test of cyber sovereignty and the legal boundaries for cross-border recovery of digital assets. The United States has focused its messaging on sanctions and forfeitures tied to alleged human trafficking and online fraud.
What Happens Next
The dispute raises pressure for clearer public evidence linking the LuBian theft to the seized bitcoin. It also places new scrutiny on law enforcement methods for tracing and recovering digital assets in multi-jurisdictional cases, especially when state attribution claims are involved. U.S. courts will now weigh the forfeiture claims connected to Chen and the Prince Group, with any official response from prosecutors likely to shape future international cooperation on cryptocurrency recoveries.
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