China’s cybersecurity agency CVRC (National Computer Virus Emergency Response Center) has accused the US government of being involved in large-scale cryptocurrency theft.
China accuses US of stealing 127,000 Bitcoins: $13 billion in crypto tensions
The 127,000 Bitcoins (approximately $13 billion) seized by the U.S. Department of Justice were actually assets stolen in a 2020 cyberattack on the China-based LuBian mining pool, according to a white paper published by the agency.
CVERC claimed that the attack was carried out using sophisticated tools and may have been carried out by a “state-level cyberattack organization.”
The report suggests that the US seizure of Bitcoin in question may be part of a broader operation involving the same group of attackers.
According to a report in China’s state-run newspaper Global Times, the hacked Bitcoin remained dormant for nearly four years.
But in mid-2024, the funds were secretly moved to a new wallet, and blockchain analysis firm Arcam discovered links to the US government.
The United States maintains that the Bitcoin seizure was a completely legitimate law enforcement operation. CVERC’s allegations have reignited ongoing cybersecurity and digital asset tensions between the United States and China.
According to the report, CoinDesk reached out to the U.S. Treasury Department and Department of Justice for comment, but did not receive a response at the time of writing.
*This is not investment advice.
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