Counting Up Things That Have Expired. Silver Ain’t One of ’Em.Bitcoin’s been breached.....
Silver Academy ^ | 15 Nov 25 | Silver Academy
Posted on 11/15/2025 3:30:47 PM PST by delta7
Remember all the chatter like Bitcoin is private (nothing further from the truth as anyone can research this ledger stored on the internet) or Bitcoin is digital gold? First thing that has expired. the Notion that Bitcoin is Safe or Private
BITCOIN HAS BEEN HACKED
China Accuses US of Orchestrating $13 Billion Bitcoin Hack (2) Summary by Bloomberg Al • China's cybersecurity agency accused the American government of orchestrating the theft of about $13 billion worth of Bitcoin from the LuBian Bitcoin mining pool. • The Chinese National Computer Virus Emergency Response Center said the hack is likely a "state- level hacker operation" led by the US, citing the quiet and delayed movement of the stolen Bitcoin. • The US government seized the stolen Bitcoin, with federal prosecutors declining to comment on how or when they obtained control of the Bitcoin, and a lawyer for Chen Zhi calling the government's allegations about Chen "seriously.....
China has formally accused the United States of orchestrating a $13 billion state-level cybertheft involving the seizure of 127,000 Bitcoin originally stolen in a 2020 hack of the Chinese LuBian mining pool. The U.S. government disputes the allegation, asserting the Bitcoin was lawfully seized as part of a fraud crackdown, but China insists the act constitutes “state-backed cyber theft” and has transformed the incident into a geopolitical flashpoint.
Key Timeline and Details
The Hack: In December 2020, approximately 127,272-127,426 BTC (worth $3.5 billion then, now valued over $13 billion) were stolen from the LuBian mining pool, previously one of the world’s largest mining operations. Attribution: China’s National Computer Virus Emergency Response Center (CVERC) alleges this was not an ordinary criminal hack but a “state-level operation” ultimately directed by the U.S. government, with technical indicators suggesting sophisticated resources. Movement of Coins: The stolen Bitcoin remained dormant for several years, only moving in 2024 after the U.S. indicted Cambodian billionaire Chen Zhi, who was accused of running a major crypto scam operation. Seizure by the U.S.: The U.S. Department of Justice disclosed in late 2025 that it had seized the same Bitcoin as part of anti-fraud actions against Chen Zhi and the Prince Group in Cambodia. Washington maintains the seizure was carried out through proper law enforcement and legal channels. China’s Counter-Claim: Beijing asserts that the pattern of on-chain movements and the lack of attempts to immediately cash out is evidence of government-level handling, not criminal laundering, and that U.S. claims about Chen Zhi’s control of the assets are unsubstantiated. Geopolitical and Market Impact
This clash has escalated into a broader digital and diplomatic standoff, deepening U.S.-China cyber tensions.....
TOPICS:
KEYWORDS: bitcoin; noithasnt
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Not looking good for the Bitcoiners and the electron boys.
1 posted on 11/15/2025 3:30:47 PM PST by delta7
To: delta7
Not looking good for the Bitcoiners and the electron boys.
Yeah, because banks and stock brokerages and corporations never get hacked.
2 posted on 11/15/2025 3:33:38 PM PST by E. Pluribus Unum (I have no answers. Only questions.)
To: delta7
Whatever you say Nostradamus ...
3 posted on 11/15/2025 3:39:20 PM PST by bankwalker (Feminists, like all Marxists, are ungrateful parasites.)
To: delta7
Bitcoin could very well fail because of quantum computing, there is no code we could make that quantum computing can’t break within minutes.
4 posted on 11/15/2025 3:49:05 PM PST by Jonty30 (I've been diagnosed as being polemic and there is no cure. )
To: delta7
All of this would be moot if we abolished fiat currency.
But since governments rule via fiat currency that won’t happen.
5 posted on 11/15/2025 3:52:04 PM PST by ChildOfThe60s (If you can remember the 60s, you weren't really there)
To: delta7
They used to say that Bitcoin COULDN’T be hacked...
6 posted on 11/15/2025 3:53:36 PM PST by Bikkuri
To: bankwalker; delta7; TexasGator
When does/did Nostradamus-Scammer Martin Armstrong run out of hidden coins?
I am asking because in 2014 he wrote:
"I do not need money so I do not have to bullshit to get readers to sell them something or to prove a point to anyone."
Gold & the Black Market & $50,000
Never "bullshit to get readers to sell them something"
7 posted on 11/15/2025 3:56:03 PM PST by CandyFloss
To: delta7
If anyone did it the Chinese did it long ago ,LOL
8 posted on 11/15/2025 4:05:38 PM PST by butlerweave (Fateh)
To: delta7
Un-possible, Bitcoin relies on blockchain, it can’t be hacked. (so we were told)
9 posted on 11/15/2025 4:12:14 PM PST by VTenigma (Conspiracy theory is the new "spoiler alert")
To: VTenigma
Un-possible, Bitcoin relies on blockchain, it can’t be hacked. (so we were told)
10 posted on 11/15/2025 4:13:24 PM PST by dfwgator ("I am Charlie Kirk!")
To: delta7
Why do you say that? it was a hack, not a breach of the bitcoin blockchain
To: VTenigma
Blockchain - it’s got electrolytes !
12 posted on 11/15/2025 4:16:54 PM PST by greenbrier
To: delta7
Wallets have been hacked. Exchanges are hacked. The blockchain hasn’t been hacked.
If you don ‘t own your own “keys” you don’t own your bitcoin.
People write terms liked “hacked” without having the slightest idea what it means.
13 posted on 11/15/2025 4:48:27 PM PST by Vermont Lt
To: delta7
"Bitcoin" has not been hacked. Individual bitcoin accounts will always be vulnerable since they rely on passwords (like anything else) or private keys. One difference is that you can generate the private keys offline and keep them permanently offline. If this reported loss is real it is because someone was very sloppy with a large account that should certainly have been protected with such offline keys.
Since an offline key can be further divided into multiple parts, bitcoin can be (if you make the effort) more secure than any physical asset like gold, since physically accessing the gold will always give a thief control. By contrast physically accessing 1 of 2 or 3, etc. crypto keys won't get you anything.
To: Bikkuri
They used to say that Bitcoin COULDN’T be hacked...
Self-custody bitcoin where you transfer it from an exchange to your personal hardware wallet can't be hacked unless you tell somebody your key.
Bitcoin exchanges can be hacked, because a bitcoin exchange is just an online bank that stores your bitcoin. You don't really own it when you leave it on the exchange. It's just a bitcoin bank account that credits your assest in bitcoin instead of dollars, and banks can get hacked.
15 posted on 11/15/2025 4:53:41 PM PST by E. Pluribus Unum (I have no answers. Only questions.)
To: delta7
Couldn’t this be an inside job, with the perps attempting to cover their tracks?
16 posted on 11/15/2025 5:08:22 PM PST by PTBAA
To: delta7
Let me know when you can pay your taxes with bitcoin….
17 posted on 11/15/2025 5:14:45 PM PST by Uncle Miltie (Real Genocide of Christians by muslims in Sudan and Nigeria gets no notice from Jew haters.)
To: Uncle Miltie
If you knew anything about Bitcoin, you would know that is a ridiculous statement. The producer of fiat currency would never accept a competitor for payments. And only an idiot would spend Bitcoin on something as silly as taxes.
18 posted on 11/15/2025 5:55:34 PM PST by Vermont Lt
To: Vermont Lt
So when a man with a gun comes to collect money for the government , bitcoin is potentially useless for defending my life.
Got it.
19 posted on 11/15/2025 5:58:06 PM PST by Uncle Miltie (Real Genocide of Christians by muslims in Sudan and Nigeria gets no notice from Jew haters.)
To: ChildOfThe60s
All money is fiat money. Gold, silver, and copper represent money, but money is not a physical thing. Precious metals are probably the best money tokens we have. We’ve been using them for 1000s of years. They work because they can’t be faked.
But all money nowadays is represented by paper promisary notes or base metal tokens. Not as good for the average person because it’s too easy for governments to make more. (The ancient Romans also had inflation and debased their money. So, precious metals are not a guarantee.)
The problem is our governments are spending more money than they are receiving. So, the money is inflated, and is the (not so) hidden tax on the people.
Governments at all levels must reduce regulation, favoritism, and spending.
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