A wallet linked to Chinese mining pool LuBian has moved $1.3 billion in BTC after the US Justice Department opened a case of $15 billion in stolen Bitcoin.
LuBian Moves $1.3 Billion in Bitcoin After US Justice Department Investigation
A wallet linked to Chinese bitcoin mining pool LuBian has moved 11,886 BTC ($1.3 billion) to new addresses after a three-year silence, analysts at Lookonchain reported.
The first transfer of 9,757 BTC ($1.1 billion) took place on Wednesday, followed by another 2,129 BTC ($238 million) a few hours later, Arkham Intelligence reported.
Arkham previously claimed that LuBian was hacked in 2020, stealing 127,426 BTC ($3.5 billion at the time). The platform transferred exactly 11,886 BTC to its “backup wallet,” which is consistent with recent movements.
US Department of Justice Investigation: $15 Billion in Stolen Bitcoin
The transfers coincided with the opening of the US Department of Justice’s case against Prince Holding Group, a Cambodian company accused of massive crypto fraud.
Prosecutors have filed a lawsuit seeking the seizure of $14.4 billion in BTC linked to a network of schemes led by Prince Group founder Chen Zhi.
The Justice Department said the bitcoins were already in US custody and could be confiscated upon conviction.
According to the investigation, the funds from fraudulent transactions were laundered through crypto mining companies, including LuBian (China), Warp Data (Laos) and its subsidiary in Texas. They were the ones who “produced clean bitcoins, not connected to criminal funds”.
Mining, confiscation and the US strategic Bitcoin reserve
If the court decides to confiscate, it will be one of the largest Bitcoin receipts to the US government reserves.
In March, President Donald Trump signed an executive order to create a strategic Bitcoin reserve, which will be filled with assets “seized in criminal or civil cases”.
According to White House adviser on AI and crypto David Sachs, this step should strengthen the US financial independence and integrate digital assets into national economic policy.
