$15 billion in Bitcoin "confiscated" after four years of slumber: a suspected state-level manipulation of black market dealings?

[Block Rhythm] The massive Bitcoin theft case that has been silent for four years has recently come to light.

The story begins on December 29, 2020. That day, the LuBian mining pool suffered a bizarre attack – 127,272 Bitcoins evaporated into thin air, which was worth $3.5 billion at the time; now? It skyrocketed to $15 billion. The owner of this batch of coins was Chen Zhi from the Cambodian Prince Group, and he must have been completely bewildered.

What’s even more magical is the subsequent operations. From early 2021 to July 2022, Chen Zhi and his team publicly called out on the chain multiple times, generally saying, “Bro, I can forgo all the money, can you at least return a little? The ransom is negotiable.” But there was no response from the other side, as if it had sunk into the sea.

After this batch of coins was transferred away, it lay in the attacker’s wallet for a full four years. Four years! Generally, hackers would have cashed out and run away long ago; who would keep $15 billion in assets completely untouched? This operation does not look like an individual act at all, but rather like a precise strike that is organized and planned—plainly speaking, it’s on the level of a “national team” operation.

Until June 2024, this batch of dormant Bitcoins was transferred to a new address, and then there was no more activity.

But the truly explosive plot unfolded on October 14, 2025: the U.S. Department of Justice suddenly jumped in and announced the prosecution of Chen Zhi, along with the “confiscation” of 127,000 Bitcoins. Wait, isn't this the batch of coins that were stolen in 2020?

The timeline is clear, and the conclusion is evident: the U.S. government likely took this batch of Bitcoin through technical means as early as 2020 and then waited five years to officially announce “legal confiscation.” This move can be described as “black eats black.”

A cold case spanning five years, a $15 billion digital asset, the possibility of national power intervention - this matter is deeply unsettling upon further reflection.