China Accuses US of Cyber Theft: The 127,000 Bitcoin Saga You Won’t Believe

by

Well, here we go again. China has decided to point the finger at the U.S., claiming that Washington played a sneaky role in one of the largest bitcoin seizures ever. No, it’s not a movie plot-it’s real life, and the plot involves massive amounts of crypto, cyberattacks, and a very questionable seizure.

China Blames US for Sneaky Bitcoin Heist

In a move that could easily be mistaken for an episode of “Spy vs. Spy,” China’s cyber authorities are accusing the U.S. of having a hidden hand in a gigantic bitcoin stash seizure. The National Computer Virus Emergency Response Center (CVERC)-try saying that five times fast-released a report on November 9, 2025, that makes some eyebrow-raising claims. According to CVERC, the U.S. government didn’t just sit idly by when 127,000 bitcoins were stolen in a 2020 cyberattack-they grabbed the loot themselves. I mean, who knew the U.S. was moonlighting as a crypto thief?

The whole thing started in December 2020, when hackers hit the Lubian mining pool and made off with a cool $3.5 billion worth of bitcoin. (I wonder how many Teslas that’s worth today.) After the heist, the stolen bitcoins were dormant for about four years. Then, in June 2024, a little activity popped up, and by October 2025, boom!-the U.S. Department of Justice swooped in and seized the assets. Talk about waiting for your moment to shine.

According to CVERC, the stolen bitcoins eventually ended up in wallets traced back to the U.S. government. The report claims that the U.S. government had all the signs of a seasoned thief-carefully managing the stolen goods while making it look like they had absolutely no involvement. Fancy. This wasn’t your average “fast cash” hack-nope, this was a four-year-long, state-level precision operation. You know, just your typical Tuesday in the world of international cybercrime.

And here’s where it gets spicy: the U.S. DOJ, in their defense, says the assets were “criminal proceeds.” But CVERC doesn’t buy it. They argue that most of the bitcoin was actually mined independently or transferred through legal exchanges. Sure, there’s a tiny fraction that looks fishy, but that’s like finding a small rock in a field of diamonds, right?

In the end, the Global Times, China’s state-run newspaper, seems to be using this as a chance to toss some serious shade at the U.S., portraying this as the latest chapter in the ongoing U.S.-China rivalry over cyber sovereignty, blockchain regulation, and who really controls your digital wallet.

FAQ ⏰

  • What sparked China’s latest cyber accusation against the U.S.?
    Well, according to CVERC, the U.S. might’ve had a hand in the theft and seizure of a whopping 127,000 bitcoins from a 2020 mining pool breach. What could go wrong?
  • How much bitcoin is under dispute?
    Around 127,272 bitcoins-valued at roughly $3.5 billion at the time of the hack. You know, just a casual weekend heist.
  • Why does CVERC think this was a state-level operation?
    CVERC points to the long dormancy and careful movement of the stolen bitcoins. It’s not your average hacker who takes a four-year nap before making a move.
  • What impact could this have on global crypto governance?
    Oh, just a minor thing: it’s shaking up the ongoing U.S.-China rivalry over blockchain, digital assets, and basically who gets to control the virtual treasure chest.

Read More

2025-11-12 06:04