Bitcoin Updates: China Challenges Validity of US $13 Billion Crypto Seizure
- China accuses U.S. of central role in 2020 LuBian $13B Bitcoin heist, alleging state-linked hacking involvement. - CVERC disputes U.S. seizure legitimacy, citing 4-year dormancy and 2024 government wallet transfers as atypical criminal behavior. - DOJ claims $13B seizure is "largest forfeiture in history," while China frames it as geopolitical strategy to undermine crypto influence. - Dispute highlights escalating U.S.-China tensions over digital asset governance and cross-border enforcement norms.
China has made new accusations against the United States, claiming it played a key part in one of the most significant
The National Computer Virus Emergency Response Center (CVERC), an agency linked to the Chinese government, alleges that the U.S. Department of Justice (DOJ) gained possession of the stolen Bitcoin through a “state-backed hacking group” connected to the initial theft,
The LuBian incident, which has been linked to Cambodian businessman Chen Zhi and his Prince Group, was first brought to light in 2020 but resurfaced after the DOJ filed a civil forfeiture action in October 2025 to claim the funds as proceeds from fraud,
The U.S. Treasury and DOJ have not issued public responses to CVERC’s allegations, but their official remarks stress the lawfulness of the asset seizure. “The funds are currently held by the U.S. government,” the DOJ announced, describing the move as the “largest asset forfeiture in department history,”
This episode highlights the increasing tension between China and the U.S. over the regulation of digital assets. While the U.S. seeks to lead in crypto oversight, China has imposed stricter rules on domestic mining and limited exports of rare-earth elements vital for technology production,
As the world’s two largest economies engage in this high-stakes standoff, the results may influence international standards for asset recovery and government-backed cyber operations. For now, the $13 billion in confiscated Bitcoin stands as a powerful symbol in the intensifying struggle for dominance in digital finance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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