The report indicated that a major hacking attack occurred at the LuBian mining pool in 2020, resulting in the theft of 127,272.06953176 Bitcoins (worth approximately $3.5 billion at the time, now worth $15 billion). The holder of this huge amount of Bitcoins was identified as Chen Zhi, chairman of the Prince Group of Cambodia.

Following the attack, the Bitcoins remained untouched in a wallet address controlled by the attackers for four years, almost entirely untouched. This is clearly inconsistent with the typical behavior of hackers eager to cash out and pursue profits, suggesting a precise operation orchestrated by a "nation-state hacking organization."

The stolen Bitcoins were only transferred to a new Bitcoin wallet address in June 2024 and have remained untouched ever since. On October 14, 2025, the U.S. Department of Justice announced criminal charges against Chen Zhi and the seizure of 127,000 Bitcoins from Chen Zhi and his Prince Group.

Evidence suggests that the massive amount of Bitcoins seized by the U.S. government from Chen Zhi and his Prince Group were actually Bitcoins from the LuBian mining pool that had already been stolen by hackers using technical means back in 2020. In other words, the U.S. government may have already stolen 127,000 Bitcoins held by Chen Zhi through hacking techniques as early as 2020; this is a classic case of a "double-cross" operation orchestrated by a state-sponsored hacking group.

[PANews]