Bitcoin Heist Blame Game: China’s Odd Allegiance and the USA’s Crypto Catch
China’s National Computer Virus Emergency Response Center has accused the USA of a 2020 bitcoin heist, aligning with an unusual ally. The stolen bitcoin remained untouched for years, hinting at a nation-state actor. Meanwhile, China’s advice to mining pools appears out of sync with its own cryptocurrency ban.
Hot Take:
In a plot twist worthy of a Hollywood blockbuster, China accuses the USA of a Bitcoin heist, but the real twist? Both countries are doing a synchronized dance on the narrative floor, yet somehow missing the beat of their own policies. Who knew cryptocurrency drama could be this entertaining?
Key Points:
- China’s CVERC accused a nation-state (hint: the USA) of stealing 127,272 Bitcoin from LuBian, a mining operation.
- The Bitcoins were allegedly owned by Chen Zhi, who was later indicted by the US for fraud and money laundering.
- The stolen BTC ended up with the US government, making China and the US agree on the theft but not on the legalities.
- CVERC omitted any mention of Chen Zhi’s forced-labor scam connection, despite China’s strong stance against such practices.
- CVERC advises local blockchain operators on security, ironically as China bans crypto mining and trading.
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