LuBian Transfers Nearly $1.3 Billion in Bitcoin After US Department of Justice Seizure
Date: 2025-10-17 Author: Henry Casey Categories: BUSINESS
On October 15, a wallet linked to the Chinese firm LuBian transferred approximately 11,886 BTC, equivalent to nearly $1.3 billion. This transfer occurred one day after the US Department of Justice seized $15 billion in Bitcoin in connection with the Prince Holding Group fraud case. According to Lookonchain, the first transaction amounted to 9,757 BTC (approximately $1.1 billion) and was distributed between two new wallets after three years of inactivity. A few hours later, another 2,129 BTC (approximately $238 million) were transferred from the same wallet, according to Arkham Intelligence.
Analysts believe LuBian's activity may be related to the investigation into cryptocurrency money laundering schemes. The Department of Justice recently unsealed an indictment against Prince Holding Group, a Cambodian company accused of massive crypto fraud. The forfeiture complaint, filed on October 14, alleges approximately $14.4 billion in assets linked to a network led by Chen Zhi, the founder of Prince Group.
The US Department of Justice emphasized that the seized bitcoins are already under arrest and will be confiscated following the trial. According to the department, Zhi and his accomplices used the illicit proceeds to fund mining operations. The investigation also includes Warp Data, with its Texas branch, and the Chinese company LuBian, which was among the top six largest Bitcoin pools in the world in 2020.
Experts note that, after the trial is completed, the seized bitcoins could become a significant addition to the US national digital currency reserve. In March 2025, President Donald Trump signed an executive order establishing the Strategic Bitcoin Reserve. At the time, David Sachs, the White House's head of artificial intelligence and cryptocurrency, stated that the reserve would be replenished with bitcoins confiscated in criminal or civil cases.
Lubian's actions thus attracted the attention of regulators and experts, as large cryptocurrency transfers are occurring amid an investigation into financial abuse. Observers believe such activity may be part of a strategy to move or protect the company's digital assets amid increasing scrutiny from US authorities.
