The Breakdown Did the US Steal $13 Billion in Bitcoin? China Says Yes
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Nov 13, 2025 China is accusing the US of stealing over $13 billion in Bitcoin from a mining pool, igniting tensions between the two nations. The coins, linked to a state-level hack, mysteriously moved into DOJ wallets years later. Allegations against Chinese billionaire Chen Ji deepen the intrigue, particularly around claims of forced labor. Meanwhile, Coinbase is set to revive U.S. token sales, incorporating lessons from past ICO scams to ensure safer transactions. This situation reflects Bitcoin's growing significance in global geopolitics.
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Largest Bitcoin Hack Hidden For Years
- The 2020 Libuyan hack stole 127,000 BTC and stayed quiet until Arkham exposed it in 2024.
- The coins moved only in 2023 into wallets linked to a DOJ forfeiture, suggesting non-typical hacker behavior.
Beijing Claims U.S. State Hacking Role
- China's cybersecurity agency alleges the U.S. orchestrated a state-level hack to take the coins.
- They base the claim on the delayed, quiet movement of funds and overlap with a DOJ forfeiture filing.
DOJ Seizure Tied To Chen Ji Case
- The DOJ linked the seized bitcoin to charges against Chen Ji and Prince Group in October.
- The indictment said Chen had the private keys, though he remains at large, raising questions about how the wallets were accessed.