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China accuses US of a $13 billion Bitcoin ‘state-hack’, raising crypto market nerves
China claims US seized $13 bn of Bitcoin in a state-hack allegation, injecting fresh geopolitical risk into crypto markets.
Chinese authorities claimed that the United States Department of Justice (US DoJ) had seized 127,000 units of Bitcoin (BTC) — worth over $13 billion — and described the action as a state-sponsored hack. The coins allegedly originated from the 2020 hack of the LuBian mining pool.
The dispute affects about 0.65% of Bitcoin’s supply and has heightened concerns over cross-border crypto regulation.