Chinese And US Governments Fighting Over Bitcoin? Here’s What We Know

NewsBTC•Wednesday, November 12, 2025 at 2:00:12 PM

The Bitcoin hack from December 2020, which saw the theft of 127,271 BTC from the LuBian mining pool, has resurfaced in discussions following a report by China's National Computer Virus Emergency Response Center (CVERC). This incident is not just a cybersecurity breach; it reflects a deeper geopolitical tension between China and the US over cryptocurrency assets valued at $15 billion. The unusual inactivity of the stolen Bitcoin for four years has led blockchain experts to speculate that this was a state-level operation, rather than the work of typical hackers. As both nations exchange accusations, some analysts propose that the US government may have secretly seized the stolen coins, further complicating the narrative. The chairman of the Prince Group, Chen Zhi, even resorted to sending over 1,500 messages on the Bitcoin blockchain, pleading with the hackers to return the funds. This situation underscores the intricate relationship between cybersecurity and international relations in t…

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