China Accuses U.S. of Orchestrating $13B Bitcoin Hack: The LuBian Cyber War Ignites

China cybersecurity agency has publicly accused U.S. government entities of orchestrating the 2020 LuBian Mining Pool hack, resulting in the theft of 127,000 BTC (~$13 billion). This marks a major geopolitical incident for Bitcoin.

The LuBian Pool Heist — what happened in 2020

In 2020 the LuBian Mining Pool, a large-scale Bitcoin mining operation, abruptly halted payouts and announced “technical irregularities”. Subsequent investigations suggested that 127 000 BTC were siphoned off, equivalent today to roughly $13 billion.
According to recent developments, the Cyberspace Administration of China (CAC) has formally accused U.S. state-linked actors of executing the operation—marking one of the largest cryptocurrency thefts ever.
You can see more updates and market stories in our dedicated Bitcoin News section.

State-level hacking meets Bitcoin — a new battleground

The allegation dramatically shifts the narrative of cryptocurrency security: no longer is this simply about rogue hackers or exchange vulnerabilities, but about state-level cyber operations targeting the world’s largest decentralized asset.
For the cryptosphere, the term Bitcoin hack war resonates as a new search-intent phrase as traders, institutions and regulators parse the implications for global financial stability, mining integrity and regulatory frameworks.
On-chain data from Glassnode and CryptoQuant show elevated mining-pool anomalies in 2020, and analysts are now speculating on potential future vectors of attack—as covered in previous archive stories on mining threats.

Implications for miners, markets and regulation

If the CAC’s claim holds merit, mining operations—which were traditionally viewed as infrastructure and energy consumers—may now be treated as strategic assets in the geopolitical chessboard.
Institutional investors monitoring the Bitcoin market may begin pricing in state-actor risk premium, shifting how large-scale capital and ETFs view mining-derived revenue streams.
Regulators in the U.S., China and EU may raise new standards for mining-pool governance, transparency and resilience. The once-underground mining community now walks a line between technological innovation and national-security scrutiny.

Long-Term Outlook — Bitcoin’s evolution as geopolitical infrastructure

With this incident, Bitcoin transitions from “digital gold” to a component of state strategy. The keyword Bitcoin hack war may gain traction as markets increasingly view blockchain infrastructure as vulnerable to nation-state conflict.
For the long term, diversification of mining jurisdictions, stronger on-chain monitoring and cross-border cooperation will become essential. The Bitcoin ecosystem’s robustness will be tested not just by code or forks, but by cyber-diplomatic escalation.

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