US Government Seizes $15 Billion Bitcoin Haul Stolen from Cambodian Tycoon in ‘Black-on-Black’ Operation
The U.S. Department of Justice (DOJ) has seized approximately 127,000 bitcoins—now worth over $15 billion—from Cambodian business leader Chen Zhi and the Prince Group, linking the seized funds to a massive 2020 hack of the LuBian mining pool.
Technical analysis suggests the US government’s seizure was effectively a "black-on-black" operation, utilizing sophisticated hacking or digital techniques to confiscate funds originally obtained through a criminal act. The stolen bitcoin had remained dormant for four years, an unusual pattern that first suggested the involvement of a 'state-level hacker organization'.
The fact that the seized bitcoin is the exact cache stolen in 2020 implies a covert state operation. This marks a significant escalation in how nation-states are addressing digital crime, using digital means to appropriate illicit assets while raising complex questions about sovereign authority in cyberspace.
