Inside China’s Claim That America Seized $13 Billion in Bitcoin
A stunning new allegation has emerged in the global crypto and cyber-security arena: the China National Computer Virus Emergency Response Center (CVERC) has accused the United States Department of Justice (DOJ) and thereby the U.S. government of orchestrating one of the largest crypto transfers in history—approximately 127,000 bitcoin (BTC), currently valued at around $13 billion.
This isn’t just another hack: it’s a claim of state-level hacking, diplomatic tension, and geopolitical implications. The situation raises questions about how bitcoin’s neutrality and decentralised nature hold up when superpowers get involved.
Table of Contents
2. What’s Being Claimed – The Chinese Narrative
According to China’s cybersecurity agency:
3. The U.S. Perspective – The Official Response
From the U.S. side:
4. Key Facts & Timeline
Additional notes:
5. Why This Matters – Crypto, Geopolitics & Risk
a) Implications for Bitcoin & crypto trust
If a superpower is alleged to have hacked or seized billions in bitcoin, this challenges the notion of Bitcoin (Bitcoin) as impervious to state influence or control. It raises questions: Who really controls large pools of crypto? If governments can intervene covertly, that affects investor confidence.
b) Geopolitical flashpoint
The dispute adds yet another front to the increasingly fraught relationship between the U.S. and China — in this case, over digital assets and cyber-operations. It reflects how crypto is no longer just a financial instrument, but a tool and battleground in international strategy.
c) Legal, regulatory and institutional ripple-effects
6. Areas of Uncertainty & Skepticism
7. What to Watch Going Forward
Conclusion
The claim by China that the U.S. seized $13 billion in bitcoin via a state-orchestrated hack is bold, far-reaching and loaded with geopolitical significance. Whether the facts ultimately bear out China’s narrative or not, the event highlights a pivotal shift: cryptocurrencies are no longer just an alternative financial asset — they have become contested space between nations.
For anyone invested in crypto, following crypto-adjacent stocks, or tracking regulatory risk, this case serves as an early-warning: the decentralised promise of bitcoin may still face centralised power plays. In a world where states can move with stealth and millions of bitcoin change hands quietly, the old rules of finance, technology and geopolitics are colliding.
FAQs
What exactly is China accusing the U.S. of?
China claims that the United States government — specifically U.S. law enforcement — orchestrated a state-level cyberattack to steal approximately 127,000 bitcoin from a Chinese mining pool in 2020, now worth about $13 billion.
Did the U.S. admit to hacking the bitcoin?
No. The U.S. Department of Justice denies China’s claims. The U.S. says the bitcoin was legally seized because it was tied to criminal activity — allegedly involving businessman Chen Zhi and Prince Group — not hacked from China.
Why is the incident controversial?
The two nations present opposing narratives:
This conflict raises questions about cyber sovereignty, international law, and the future of asset seizures in crypto.
Where did the alleged bitcoin hack originally occur?
According to China, the target was the LuBian (Lubian) bitcoin mining pool — once one of the world’s largest mining operations.
How much bitcoin is involved in the controversy?
Approximately 127,272 BTC, valued at nearly $13 billion today, depending on bitcoin’s price at time of valuation.
