China Alleges US State-Sponsored Theft of 127,000 Bitcoin

A new report from China’s National Computer Virus Emergency Response Center (CVERC) accuses the U.S. government of orchestrating a large-scale hacking operation to seize $3.5 billion worth of bitcoin stolen from a Chinese mining pool in 2020. The report claims the US used hacking techniques to acquire these coins, later framing them as part of an investigation into Chen Zhi, a Cambodian billionaire and founder of the Prince Group accused of running a crypto scam in Southeast Asia. The U.S. Department of Justice (DOJ), however, insists it seized funds connected to international fraud through lawful means.