Analysis: The US government may have "double-crossed" and stolen Chen Zhi's 127,000 Bitcoins; the case fits the characteristics of a state-level hacker organization operating it.
律动Nov 9, 2025
On November 9th, the National Computer Virus Emergency Response Center released the "Technical Source Tracing Analysis Report on the LuBian Mining Pool Being Attacked by Hackers and Stealing Huge Amounts of Bitcoin." On December 29, 2020, a major hacker attack occurred on the LuBian mining pool, with a total of 127,272.06953176 Bitcoins (worth approximately $3.5 billion at the time, and now worth $15.0 billion) stolen by the attackers. The holder of this huge amount of Bitcoin is Chen Zhi, Chairman of the Prince Group of Cambodia. After the hacker attack, Chen Zhi and his Prince Group repeatedly released messages on the blockchain in early 2021 and July 2022, calling out to the hackers, hoping that the stolen Bitcoin could be returned and willing to pay a ransom, but received no response.But strangely, after this huge amount of Bitcoin was stolen, it was stored in the Bitcoin wallet address controlled by the attacker for as long as 4 years, with almost no movement. This is obviously not in line with the behavior of general hackers who are eager to realize profits, but more like a precise operation orchestrated by a "national-level hacker organization." It was not until June 2024 that this batch of stolen Bitcoin was transferred to a new Bitcoin wallet address again, and it has not been moved since.On October 14, 2025, the U.S. Department of Justice announced criminal charges against Chen Zhi and claimed to have seized 127,000 Bitcoins from Chen Zhi and his Prince Group. All kinds of evidence show that the huge amount of Bitcoin seized by the U.S. government from Chen Zhi and his Prince Group is precisely the LuBian mining pool Bitcoin that was stolen by hackers using technical means as early as 2020. In other words, the U.S. government may have stolen 127,000 Bitcoins held by Chen Zhi through hacking techniques as early as 2020, which is a typical "double-cross" event orchestrated by a national-level hacker organization.[BlockBeats]
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Analysis: The US government may have "double-crossed" and stolen Chen Zhi's 127,000 Bitcoins; the case fits the characteristics of a state-level hacker organization operating it.
律动Nov 9, 2025
On November 9th, the National Computer Virus Emergency Response Center released the "Technical Source Tracing Analysis Report on the LuBian Mining Pool Being Attacked by Hackers and Stealing Huge Amounts of Bitcoin." On December 29, 2020, a major hacker attack occurred on the LuBian mining pool, with a total of 127,272.06953176 Bitcoins (worth approximately $3.5 billion at the time, and now worth $15.0 billion) stolen by the attackers. The holder of this huge amount of Bitcoin is Chen Zhi, Chairman of the Prince Group of Cambodia. After the hacker attack, Chen Zhi and his Prince Group repeatedly released messages on the blockchain in early 2021 and July 2022, calling out to the hackers, hoping that the stolen Bitcoin could be returned and willing to pay a ransom, but received no response.But strangely, after this huge amount of Bitcoin was stolen, it was stored in the Bitcoin wallet address controlled by the attacker for as long as 4 years, with almost no movement. This is obviously not in line with the behavior of general hackers who are eager to realize profits, but more like a precise operation orchestrated by a "national-level hacker organization." It was not until June 2024 that this batch of stolen Bitcoin was transferred to a new Bitcoin wallet address again, and it has not been moved since.On October 14, 2025, the U.S. Department of Justice announced criminal charges against Chen Zhi and claimed to have seized 127,000 Bitcoins from Chen Zhi and his Prince Group. All kinds of evidence show that the huge amount of Bitcoin seized by the U.S. government from Chen Zhi and his Prince Group is precisely the LuBian mining pool Bitcoin that was stolen by hackers using technical means as early as 2020. In other words, the U.S. government may have stolen 127,000 Bitcoins held by Chen Zhi through hacking techniques as early as 2020, which is a typical "double-cross" event orchestrated by a national-level hacker organization.[BlockBeats]
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