China has accused the US government of launching a cyberattack, carrying out a $13 billion theft in Bitcoin (BTC). According to China’s National Computer Virus Emergency Response Center (CVERC), Washington was behind the December 2020 hack. A total of 127,000 BTC were stolen in 2020.

The stolen Bitcoins belonged to Vincent Chen Zhi, a Chinese-born Cambodian tycoon, on behalf of the world’s largest BTC mining firm, LuBian. Zhi is also the founder and Chairman of the Prince Group. CVERC wrote in its report that the theft was not the work of a criminal organization.

It laid $13 billion worth of Bitcoin theft squarely on the US government. “This is clearly not the behaviour of a typical hacker eager to cash out for profits. And more like a precise operation orchestrated by a national hacking organization,” read the CVERC report.

“The US government may have stolen 127,000 Bitcoin through hacking techniques as early as 2020. This is a typical case of state-level hacking organizations conducting ‘theft among thieves,'” the Chinese report stated.

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US Stole $13 Billion Worth of Bitcoin, Alleges China

State-level authorities orchestrated the $13 billion Bitcoin theft, claims the CVERC report. The accusations come at a time when tensions between the US and China are high. Trade wars, tariffs, and negotiations are ongoing between the two most economically powerful nations.

In October, the US Justice Department announced that it had confiscated Bitcoin valued at $13 billion from Vincent Chen Zhi. The Justice Department alleged that the digital assets were used to conduct human trafficking and online fraud operations.

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However, the Price Group founder broke his silence on Tuesday, saying that the US Department of Justice is making “baseless” allegations. They have “caused undue harm to thousands of innocent employees, partners and communities,” he said. The group also expressed confidence that Chen Zhi would “completely clear his name.”