China’s cybersecurity agency has accused the United States government of orchestrating a massive cyber theft of approximately $13 billion worth of Bitcoin from the LuBian Bitcoin mining pool in December 2020. This heist involved the theft of 127,272 Bitcoin tokens, which is considered one of the largest cryptocurrency thefts in history. The Chinese National Computer Virus Emergency Response Center described the operation as a “state-level hacking” effort due to the slow, quiet transfer of stolen coins, suggesting government involvement rather than typical cybercrime. The stolen Bitcoins reportedly remained dormant for nearly four years until 2024, when they were moved following an indictment by U.S. authorities against Chen Zhi, chairman of Cambodia’s Prince Group, who was charged with wire fraud and money laundering linked to the same funds. The Chinese report alleges a “black eats black” scenario, accusing the U.S. of stealing the Bitcoin it later seized from Chen’s assets. This accusation adds to the growing cyber rivalry between the two powers amid previous Chinese claims of U.S. cyberattacks. U.S. officials have not disclosed how the Bitcoins were obtained or the exact connection between Chen and LuBian. Chen’s legal team denies wrongdoing and is seeking more time to trace the stolen Bitcoin.