New Tensions Emerge Between China and the US! China Accuses the US of Stealing Bitcoin! Here Are the Details

Chinese cybersecurity agency CVERC (National Computer Virus Emergency Response Center) has accused the US government of being involved in a large-scale crypto theft.

China Accuses US of Stealing 127,000 Bitcoins: $13 Billion Crypto Tension

According to a white paper published by the agency, the 127,000 Bitcoins (approximately $13 billion) seized by the US Department of Justice were actually stolen assets in a cyberattack on the China-based LuBian mining pool in 2020.

CVERC claimed that the attack was carried out with advanced tools and may have been carried out by a “state-level cyberattack organization.”

The report suggested that the US seizure of the Bitcoins in question may be part of a broader operation involving the same attacker group.

According to a report in the Chinese state-run Global Times newspaper, the hacked Bitcoins remained dormant for nearly four years.

But in mid-2024, the funds were quietly moved to new wallets, which blockchain analysis firm Arkham discovered were linked to the US government.

The US maintains that the seizure of the Bitcoins was a perfectly legitimate law enforcement operation. The CVERC's allegations have reignited ongoing cybersecurity and digital asset tensions between Washington and Beijing.

According to the report, CoinDesk contacted the US Treasury Department and the Justice Department for comment but did not receive a response at the time of writing.

*This is not investment advice.