China Accuses U.S. of Stealing 127K BTC in High-Profile Crypto Hack

Why It Matters

The confrontation underscores how geopolitical rivalries can spill into the cryptocurrency arena, complicating international cooperation on cybercrime and asset recovery, and may dampen market confidence in the governance of digital assets.

Summary

China’s National Computer Virus Emergency Response Center (CVERC) alleges that the U.S. Department of Justice seized 127,000 bitcoin—valued at roughly $13 billion—that were stolen in a 2020 hack of a Chinese mining pool, and claims the theft was carried out by a state‑level hacking organization. The Chinese watchdog suggests the seizure is the final phase of a broader operation involving the same attackers, while the United States maintains the action was a legitimate law‑enforcement effort targeting criminal proceeds. The dispute revives a four‑year‑old mystery over the whereabouts of the stolen coins, which were recently traced to wallets linked to the U.S. government. The accusation adds a new layer of tension to already strained U.S.–China cyber relations.