Analysis: The U.S. government may "hack and steal" 127,000 Bitcoins from Chen Zhi, and the case exhibits characteristics of a state-level hacker organization.

On November 9, the National Computer Virus Emergency Response Center released the “Technical Traceability Analysis Report on the LuBian Mining Pool Hacked and Stolen Massive Bitcoin Incident.” On December 29, 2020, the LuBian Mining Pool experienced a major hacking incident, in which a total of 127272.06953176 Bitcoins (valued at approximately $3.5 billion at the time, now reached $15 billion) were stolen by the attackers. The holder of this massive amount of Bitcoin is Chen Zhi, chairman of the Prince Group in Cambodia. After the hacking incident, Chen Zhi and his Prince Group issued messages on the blockchain multiple times in early 2021 and July 2022, calling out to the hackers, hoping they would return the stolen Bitcoin and were willing to pay a ransom, but received no response. However, it is strange that after this massive amount of Bitcoin was stolen, it remained dormant in a Bitcoin wallet address controlled by the attackers for as long as four years, with almost no movement, which obviously does not align with the typical behavior of hackers eager to cash out for profit, but rather resembles a precise operation orchestrated by a “national-level hacker organization.” It wasn't until June 2024 that this batch of stolen Bitcoin was transferred to a new Bitcoin wallet address, and it has remained untouched since. On October 14, 2025, the U.S. Department of Justice announced criminal charges against Chen Zhi and stated that 127,000 Bitcoins belonging to Chen Zhi and his Prince Group would be confiscated. Various pieces of evidence indicate that the massive amount of Bitcoin confiscated by the U.S. government from Chen Zhi and his Prince Group was indeed the Bitcoins from the LuBian Mining Pool that had been exploited and stolen by hackers back in 2020. In other words, the U.S. government may have already utilized hacking techniques to seize the 127,000 Bitcoins held by Chen Zhi as early as 2020, marking a typical “black eats black” incident orchestrated by a national-level hacker organization.