Overview
- CVERC’s new report claims a state-level group stole about 127,000 BTC from the LuBian mining pool in 2020 and asserts the later U.S. seizure was part of the same operation.
- The U.S. Department of Justice says approximately 127,271 BTC are in U.S. custody as alleged fraud and money-laundering proceeds tied to Chen Zhi and has filed a civil forfeiture action.
- Blockchain firms document coordinated drains on Dec. 28–29, 2020, and cite a weak-key flaw (MT19937 seeded with 32 bits) that made targeted wallets vulnerable to brute-force attacks.
- Arkham, Elliptic, and TRM link the 2020 outflows to mid-2024 consolidations and to addresses named in DOJ filings, with Arkham tagging the destination wallets as U.S. government-controlled.
- U.S. officials reject Beijing’s allegation, and independent forensic groups confirm the on-chain flows but say the public record does not prove a U.S. state role, even as Chinese state media amplify the claim.