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0 sats \ 0 replies \ @Cje95 22h \ on: How should the seized 127,272 BTC, purportedly hacked by the US, be handled? bitcoin
This is funny on so many levels and shows that China is trying to spin something that just is not there and the public blockchain shows us that.
First off Bitcoin mining, transactions, and business are still illegal in China.
Second over a month ago when this broke the US was crystal clear about the situation
In an Oct. 8 indictment filed against Chen in New York, the US alleged that he and co-conspirators laundered illicit proceeds by using them to fund “large-scale” crypto mining operations including LuBian. The indictment said addresses associated with LuBian “received large sums of cryptocurrency from sources unrelated to new mining.”
This wasn't some crazy level operation LuBian had already said in 2020 that these funds were stolen but now China thinks that the US did some huge operation way back then to do it? That just doesn't make any sense and definitely doesn't pass a smell test.
Chen Zhi has been charged with crimes against Americans and his assets have be frozen and or seized. That includes the BTC, his other crypto wallets, and his property in London. If he is found guilty then like with every other criminal conviction his assets should be used to make the people his pig butcher operations hurt whole again.
The question is what to do with the BTC after that is all done. Sending it back to LuBian doesn't exactly work anymore now that it is gone and it operated in China where BTC is illegal as mentioned above.
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