The U.S. government seeks to confiscate 127,000 BTC from the LuBian mining operation run by Chen Zhi, which was stolen as early as 2020

ChainCatcher news, db's update states that the U.S. government is seeking to confiscate 127,271 bitcoins (approximately $14 billion), which actually come from the LuBian mining operation run by Chen Zhi, and were stolen back in 2020.

These bitcoins have remained idle since then. Unless some sort of impersonation hacking incident occurs, they are unlikely to recover these coins.

It is reported that LuBian is a bitcoin mining pool with facilities in China and Iran, and the stolen assets were valued at around $3.5 billion at the time of the incident, now worth over $14 billion. Arkham pointed out that neither LuBian nor the hackers have publicly responded to this matter. Analysts believe that the U.S. recovery efforts may target this long-dormant massive wallet, but if the wallet indeed contains stolen assets, there remains a high degree of uncertainty regarding whether the U.S. can actually control the relevant keys.