U.S. Government Seizes Stolen Bitcoin from Cambodian Businessman

According to Odaily, the National Computer Virus Emergency Response Center has released a technical analysis report on a significant hacking incident involving the LuBian mining pool. In 2020, hackers stole a total of 127,272.06953176 bitcoins, valued at approximately $3.5 billion at the time and now worth $15 billion. The bitcoins were linked to Chen Zhi, chairman of Cambodia's Prince Group. Following the attack, the stolen bitcoins remained dormant in a hacker-controlled wallet for four years, which is unusual for typical hackers who usually seek quick profits. This inactivity suggests the involvement of a 'state-level hacker organization.' In June 2024, the stolen bitcoins were moved to a new wallet, where they remain untouched. On October 14, 2025, the U.S. Department of Justice announced criminal charges against Chen Zhi and the seizure of 127,000 bitcoins from him and the Prince Group. Evidence indicates that the bitcoins seized by the U.S. government are the same ones stolen from the LuBian mining pool in 2020. This suggests that the U.S. government may have used hacking techniques to seize Chen Zhi's bitcoins, marking a 'black-on-black' operation orchestrated by a state-level hacker organization. The 2020 hacking incident had a profound impact on the LuBian mining pool, leading to its dissolution and a loss of over 90% of its total assets at the time. The current value of the stolen bitcoins, now $15 billion, highlights the amplified risks associated with price volatility.