tldr; China accuses the US of hacking and stealing 127,271 Bitcoin, worth $15 billion, from scam kingpin Chen Zhi in 2020, disguising it as law enforcement. The Bitcoin remained dormant for years before appearing in US government wallets. The US has not explained how it obtained Chen’s private keys or announced plans to compensate victims of Chen’s alleged scams. Chen, accused of running a massive scam empire, is now in Chinese custody, while questions about state-sponsored hacking and crypto security remain unresolved.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
GreedVault on
>Washington has not explained how it obtained Chen’s private keys, nor announced any plan to compensate thousands of victims.
I wont be surprised if the thousands of victims get no compensation.
DryMyBottom on
>Washington has not explained how it obtained Chen’s private keys, nor announced any plan to compensate thousands of victims.
torture? 👀
Ginux on
This is a complete lie.
To transfer and legalize his embezzled funds, Chen Zhi invested approximately $100M in mining farms and pools, these were the proceeds of his fraud.
One of the programmers he hired left a bug in the mining pool software and, after leaving the company, stole 120k Bitcoins mined, which currently worth $13B, but this does not mean Chen Zhi defrauded his victims of $13B.
The truth is, the programmer who stole the Bitcoins was arrested during the investigation of Chen Zhi, surrendered his private keys to the US government, and became a witness, leading to the subsequent large-scale arrests and prosecutions of Chen Zhi’s group.
4 Comments
tldr; China accuses the US of hacking and stealing 127,271 Bitcoin, worth $15 billion, from scam kingpin Chen Zhi in 2020, disguising it as law enforcement. The Bitcoin remained dormant for years before appearing in US government wallets. The US has not explained how it obtained Chen’s private keys or announced plans to compensate victims of Chen’s alleged scams. Chen, accused of running a massive scam empire, is now in Chinese custody, while questions about state-sponsored hacking and crypto security remain unresolved.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
>Washington has not explained how it obtained Chen’s private keys, nor announced any plan to compensate thousands of victims.
I wont be surprised if the thousands of victims get no compensation.
>Washington has not explained how it obtained Chen’s private keys, nor announced any plan to compensate thousands of victims.
torture? 👀
This is a complete lie.
To transfer and legalize his embezzled funds, Chen Zhi invested approximately $100M in mining farms and pools, these were the proceeds of his fraud.
One of the programmers he hired left a bug in the mining pool software and, after leaving the company, stole 120k Bitcoins mined, which currently worth $13B, but this does not mean Chen Zhi defrauded his victims of $13B.
The truth is, the programmer who stole the Bitcoins was arrested during the investigation of Chen Zhi, surrendered his private keys to the US government, and became a witness, leading to the subsequent large-scale arrests and prosecutions of Chen Zhi’s group.