US Accused of Bitcoin Heist! 🐍💸 #CyberSpies

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It appears that the cybersecurity arm of China has taken it upon itself to accuse the US government of orchestrating a most audacious theft of approximately $13 billion in Bitcoin, thereby adding a touch of drama to the already fraught cyber relations between these two nations. One might say it’s a tale as old as time-except instead of knights and dragons, we have hackers and hexadecimal code.

China’s Bold Claim: A State-Level Operation, Naturally!

The incident in question involves the theft of 127,272 BTC from the LuBian Bitcoin mining pool in December 2020, a heist so colossal it could make a pirate weep. The Chinese National Computer Virus Emergency Response Center, ever the drama queens of the cyber world, suggests this was no mere criminal act but a “state-level hacker operation” orchestrated by the US. One can only imagine the US government’s response: “Oh, you mean that operation? We thought it was a prank!”

The agency points to the discreet and delayed movement of the stolen Bitcoin as indicative of governmental involvement rather than typical criminal behavior. How very convenient! It’s as if the Bitcoin were playing hide-and-seek with a group of very patient ninjas.

The report further links the Bitcoin from LuBian, a former Bitcoin mining firm, to tokens seized by the US government, which authorities claim are linked to Chen Zhi, the chairman of the Cambodian conglomerate Prince Group. One might wonder if the US government has taken to raiding mining pools for fun, or perhaps they’ve finally discovered the secret to eternal youth-by stealing Bitcoin, of course.

Chen Zhi had been accused by the US of participating in a wire-fraud conspiracy and running a money-laundering scheme in October. Notably, details on when and how the Bitcoin was confiscated by the US remain undisclosed. A mystery as deep as the Mariana Trench, and just as likely to swallow your wallet.

The narrative put forth in the report suggests that the US government might have employed hacking tactics as early as 2020 to appropriate the 127,000 Bitcoin associated with Chen Zhi, characterizing the operation as an example of a “black eats black” maneuver orchestrated by a state-level hacking entity. How very Shakespearean! “To steal or not to steal, that is the question…”

Bitcoin Forfeiture Fallout

Federal prosecutors involved in the Chen case have refrained from disclosing the methods used to gain control of the Bitcoin, following the Department of Justice’s civil forfeiture complaint seizing the 127,271 BTC, which stands as the most substantial forfeiture action undertaken by the US government. One can only assume they’re saving the details for a blockbuster film-“Hackers: The Sequel.”

Recent statements from the Chinese government have highlighted a growing trend of accusing the American government of engaging in hacking activities. It’s like a never-ending game of “I’m rubber, you’re glue!”-except with more firewalls and fewer hugs.

Earlier this year, China asserted that the US exploited vulnerabilities in Microsoft Exchange servers to target Chinese companies. Just last month, China alleged that it possessed undeniable evidence of a US cyber attack on the National Time Service Center. One might say China is becoming quite the detective, though their evidence is as solid as a sandcastle in a hurricane.

In response to the allegations, a lawyer representing Chen Zhi has filed a request for additional time in a US court to allow for tracing of the stolen BTC from LuBian. The attorney, Matthew L. Schwartz, has criticized the government’s claims against Chen as being “seriously misguided.” One can only hope the court is as open-minded as a toddler with a bag of candy.

At the time of writing, BTC was trading at $102,550, recording losses of 3% in the 24-hour time frame. A drop so steep, it could make a rollercoaster jealous. 🧠💸

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2025-11-12 09:08