Bitcoin: LuBian-Linked Wallet Transfers About $1.3B in BTC Amid DOJ Seizure Case Against Prince Holding

• 11,886 BTC moved from a LuBian-linked wallet in two transactions — 9,757 BTC then 2,129 BTC.

• Blockchain analytics firms Arkham Intelligence and Lookonchain reported the transfers and tied them to recovery wallets matched to a 2020 hack.

• Movement followed a DOJ forfeiture complaint tied to Prince Holding Group and allegations involving Chen Zhi and mining entities including LuBian and Warp Data.

LuBian Bitcoin transfer: LuBian-linked wallet moved 11,886 BTC (~$1.3B) after DOJ unsealed a $14.4B forfeiture case — read the facts and implications now.

Published: 2025-10-15 | Updated: 2025-10-15 | By COINOTAG

What happened in the LuBian Bitcoin transfer and why does it matter?

LuBian Bitcoin transfer refers to a series of wallet movements in which a wallet linked to the Chinese mining operator LuBian sent 9,757 BTC and later 2,129 BTC—totaling 11,886 BTC, roughly $1.3 billion. The timing, one day after a U.S. DOJ forfeiture and indictment action, raised scrutiny from blockchain analysts and law enforcement observers.

How did blockchain analysts identify the LuBian-linked transfers?

Blockchain analytics firms reported the activity: Lookonchain flagged the initial 9,757 BTC movement after a multi-year dormancy, while Arkham Intelligence tracked an additional 2,129 BTC moved hours later, and linked the total to recovery wallets. Arkham previously reported that LuBian’s platform was implicated in a 2020 incident that involved the movement of 127,426 BTC; the 11,886 BTC moved now matches amounts Arkham identified as associated with recovery efforts. These attributions are based on on-chain tracing patterns, wallet clustering, and transaction histories.

The transfer came a day after the US DOJ unsealed an indictment against Prince Holding Group, which allegedly used LuBian to launder illicit funds.

A wallet tied to the China-based mining operation known as LuBian moved nearly $1.3 billion in Bitcoin on Wednesday, in two distinct transactions. The first transaction transferred 9,757 BTC, valued at roughly $1.1 billion at the time, to newly active addresses after approximately three years of dormancy. Hours later, the same origin wallet moved an additional 2,129 BTC, bringing the total to 11,886 BTC, about $1.3 billion at current market prices.

LuBian-linked wallet transfers $1.3 billion in Bitcoin. Source: Arkham Intelligence

DOJ action and alleged links to Prince Holding Group

Less than 24 hours before the wallet movements, the U.S. Department of Justice unsealed legal filings related to Prince Holding Group, a Cambodia-based entity that U.S. prosecutors allege ran large-scale crypto fraud operations. The DOJ filed a forfeiture complaint seeking control over roughly $14.4 billion in crypto assets tied to the scheme. Prosecutors allege Chen Zhi, identified as the group’s founder, and associates used proceeds from alleged fraud to fund mining operations, including a Laos-based firm called Warp Data, a U.S. subsidiary, and the China-based mining pool LuBian.

The DOJ’s filings state that some of the Bitcoin in question is already in government custody and could be subject to forfeiture upon conviction. The filings also assert those entities “produced large sums of clean Bitcoin dissociated from criminal proceeds,” a phrase prosecutors use to describe the laundering process that allegedly converted illicit funds into on-chain mining proceeds.

What are the potential outcomes if the court approves forfeiture?

If a court approves the DOJ’s forfeiture requests, the recovered Bitcoin could become one of the largest additions to U.S. government digital-asset holdings. Officials previously discussed establishing a strategic Bitcoin reserve from forfeited digital assets; in March 2025, an executive order directed consideration of a government-level reserve funded by assets recovered through criminal or civil forfeiture. Any court-authorized transfer of these coins into government custody would follow established forfeiture procedures and potential appeals.

Frequently Asked Questions

Was the moved Bitcoin proven to be stolen?

Authorities and analysts have not declared the transferred 11,886 BTC definitively “stolen” in a court ruling. Arkham Intelligence previously reported that LuBian was associated with a 2020 compromise involving 127,426 BTC; the recent movements match amounts Arkham said were in recovery wallets. Legal determinations about theft or forfeiture depend on court proceedings and evidentiary standards.

Why did the wallet move funds right after the DOJ filings?

On-chain timing can reflect many operational reasons. Observers note the temporal proximity—wallet movements occurred one day after DOJ filings—but causation requires further forensic and legal analysis. Blockchain analytics firms flagged the timing; formal conclusions will depend on investigative disclosures and court records.

Key Takeaways

• Substantial transfer: 11,886 BTC (~$1.3B) moved from a LuBian-linked wallet in two transactions, first 9,757 BTC then 2,129 BTC.
• Analyst attribution: Lookonchain and Arkham Intelligence identified and linked the transfers to addresses tied to a prior 2020 incident and to recovery wallets.
• Legal context: The moves followed a DOJ forfeiture complaint tied to Prince Holding Group and allegations against Chen Zhi; potential forfeiture could add significant BTC to government holdings.

Conclusion

This episode underscores how large on-chain movements intersect with law enforcement actions: the LuBian Bitcoin transfer occurred in close temporal proximity to a high-profile DOJ forfeiture filing and has been publicly flagged by leading blockchain analytics firms. While blockchain data provides transparency on flows and amounts, legal outcomes will determine ownership and custody. COINOTAG will continue to monitor court filings, analyst reports from Arkham Intelligence and Lookonchain, and official DOJ disclosures for updates and will report material developments as they are confirmed.