US Seeks to Seize $14 Billion in Bitcoin Linked to LuBian Theft
The U.S. Department of Justice seeks to confiscate 127,271 BTC linked to the 2020 LuBian Bitcoin mining pool hack, while a dormant wallet moves over $1 billion in BTC.
BTC
Summary
A wallet linked to the 2020 LuBian Bitcoin mining pool hack has transferred 11,885 BTC, worth $1.34 billion, to a new address after nearly three years of dormancy. The U.S. Department of Justice is seeking to seize 127,271 BTC connected to the hack, which is tied to a cybercrime network known as the 'Prince Group'.
Terms & Concepts
- BTC (Bitcoin): The native cryptocurrency of the Bitcoin network, used as a decentralized digital asset for peer-to-peer transactions.
- Mining Pool: A group of cryptocurrency miners who combine resources to increase the chances of successfully mining blocks and share rewards accordingly.