logo

ChainThink

Stay ahead, master crypto insights

The U.S. government is seeking to seize 127,000 BTC originating from LuBian's mining operations, which had been stolen as early as 2020.

The U.S. government is seeking to seize 127,000 BTC originating from LuBian's mining operations, which had been stolen as early as 2020.

2025-10-14 22:37

View Original

ChainThink report, October 14, db posted an update stating, "The 127,271 bitcoins (approximately $1.4 billion) sought for seizure by the U.S. government actually came from the LuBian mining business operated by defendant CHEN ZHI, and were actually stolen in 2020."


Since then, these bitcoins have remained idle. Unless some fake hacking incident occurs, they are unlikely to obtain these coins.

#Bitcoin#Regulation

Disclaimer: Contains third-party opinions, does not constitute financial advice

Recommended Reading
In response to the potential for a U.S. ground invasion, Iran's Armed Forces: "We will sever the legs of the aggressors"
In response to the potential for a U.S. ground invasion, Iran's Armed Forces: "We will sever the legs of the aggressors"
a16z Crypto Operating Partner: Wall Street Undergoing Its Largest Infrastructure Upgrade in 30 Years
a16z Crypto Operating Partner: Wall Street Undergoing Its Largest Infrastructure Upgrade in 30 Years
If U.S. Treasury yields surge past 5%, will Bitcoin fall below $50,000?
If U.S. Treasury yields surge past 5%, will Bitcoin fall below $50,000?
A major whale address has leveraged 20x long positions on BTC and ETH within the past hour
A major whale address has leveraged 20x long positions on BTC and ETH within the past hour
Bitcoin breaks through $71,000, with a 24-hour increase of 1.47%
Bitcoin breaks through $71,000, with a 24-hour increase of 1.47%
Yesterday, U.S. spot Bitcoin ETFs saw net outflows of $66 million, while Ethereum ETFs experienced net outflows of $40.7 million.
Yesterday, U.S. spot Bitcoin ETFs saw net outflows of $66 million, while Ethereum ETFs experienced net outflows of $40.7 million.
The Kingdom of Bhutan has transferred 519 bitcoins to two new addresses
The Kingdom of Bhutan has transferred 519 bitcoins to two new addresses