China Accuses US of Secretly Seizing $13 Billion in Bitcoin
China claims the US secretly seized $13 billion in Bitcoin from a 2020 hack, which the US denies, citing a separate fraud case.Summary
China's government cybersecurity agency has accused the United States of secretly seizing approximately 127,000 Bitcoin, valued around $13 billion, which were stolen in the 2020 LuBian mining pool hack. China suggests the timing of the Bitcoin's movement indicates the US gained access earlier than officially stated, framing the seizure as a state-backed cyber operation.
The US Department of Justice (DOJ) countered these claims, asserting the Bitcoin was lawfully seized as part of a fraud probe against Cambodian businessman Chen Zhi, who faces charges related to crypto scams and human trafficking. The DOJ filed a civil forfeiture case for the assets, valued over $15 billion, to compensate victims of Chen's network.
This dispute highlights a growing sovereignty clash over digital assets, where crypto enforcement is increasingly used as a geopolitical tool. Experts note that without unified global regulation, major powers like the US and China use independent legal actions and technological influence to extend their financial control, fueling tensions over digital asset dominance.
(Source：BeInCrypto)