TechFlow news, October 15 — According to on-chain analyst EmberCN (@EmberCN), the U.S. government plans to seize 127,271 BTC, worth approximately $14.1 billion, held by Chen Zhi of Cambodia's Shukshin Group. Combined with previously held Bitcoin, the U.S. government’s total BTC holdings would reach 324,000 BTC, valued at around $36.2 billion, making it the largest single entity holding BTC.
Case documents indicate that the BTC slated for seizure is distributed across 25 addresses. These addresses are labeled on Arkham as belonging to the LuBian mining pool and were stolen in 2020. In July 2024, these BTC were consolidated and transferred once, prompting the LuBian mining pool to publicly request their return on-chain at the time. According to case documents, these BTC are currently under control of the U.S. government.
