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2mo ago

LuBian-Linked Wallet Shifts $1.3 Billion in Bitcoin After DOJ Files $15 Billion Forfeiture Case

Prosecutors say bitcoin tied to Prince Holding Group is already secured pending a court ruling.

Lubian wallet moves over $1b in btc after 3 years of inactivity: on chain data
Lubian linked wallet moves $1.3b after doj’s largest crypto forfeiture

Overview

  • Blockchain analysts reported transfers of 9,757 BTC followed by 2,129 BTC, totaling 11,886 BTC after about three years of inactivity.
  • Arkham Intelligence, Elliptic, Lookonchain, and Peckshield linked the moved coins to funds associated with LuBian’s 2020 hack involving roughly 127,000 BTC.
  • The Justice Department’s filing targets about $14.4–15 billion in bitcoin allegedly connected to Prince Holding Group and founder Chen Zhi.
  • Prosecutors allege fraud proceeds were funneled through crypto mining operations in China, Laos, and Texas, including the LuBian pool, to generate so‑called clean bitcoin.
  • If forfeiture is approved, the government-held assets could be added to the U.S. strategic Bitcoin reserve established by executive order in March.