China Report Says U.S. Seized $30 Billion in Global Crypto Assets
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A group of Chinese state-backed cybersecurity organizations says the U.S. seized more than $30 billion in global crypto assets from 2022 to 2025. Photo: VCG
The U.S. government seized more than $30 billion in virtual currency assets worldwide between 2022 and 2025, according to a report released Feb. 26 by a group of Chinese state-backed cybersecurity organizations.
The report, titled Top Player — A Deep Dive into the U.S. Harvesting of Global Virtual Currency Assets under Its Technological Hegemony, alleges that Washington has leveraged its technological dominance to confiscate digital assets around the world. Two cases — involving alleged cybercrime kingpin Chen Zhi and Binance founder Zhao Changpeng — together accounted for $20 billion, the report said.
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- The U.S. government seized over $30 billion in virtual currency assets globally between 2022 and 2025, per a Chinese cybersecurity report.
- Two major cases cited involved $15 billion from Chen Zhi and a $4.3 billion fine against Binance founder Zhao Changpeng.
- The report alleges the U.S. used technological, legal, and enforcement means for asset seizures, targeting global cryptocurrency exchanges.
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Who’s Who
- 360 Digital Security Group
- 360 Digital Security Group is a private cybersecurity firm that co-authored a report with Chinese state-backed organizations. The report, "Top Player - A Deep Dive into the U.S. Harvesting of Global Virtual Currency Assets under Its Technological Hegemony," alleges that the U.S. government seized over $30 billion in virtual currency assets globally between 2022 and 2025.
- Antiy Labs
- Antiy Labs is one of two private cybersecurity firms that co-published a report titled "Top Player — A Deep Dive into the U.S. Harvesting of Global Virtual Currency Assets under Its Technological Hegemony." This Chinese state-backed organization contributed to the report alleging that the U.S. government used its technological dominance to seize over $30 billion in virtual currency assets globally between 2022 and 2025.
- Prince Group
- Prince Group is a Cambodian conglomerate founded by Chen Zhi. The report mentions that Chen Zhi, as the founder of Prince Group, was charged with telecom fraud and money laundering in October 2025 by the U.S. Attorney's Office. This led to the forfeiture of approximately 127,000 bitcoins, valued at about $15 billion at the time. Chen was later extradited to China in January 2026.
- Binance
- Binance, a cryptocurrency exchange, and its founder, Zhao Changpeng, faced a $4.3 billion fine between 2023 and 2025 as a result of parallel civil and criminal actions by US authorities. A report by Chinese cybersecurity groups alleges the US used "comprehensive technical surveillance" to infiltrate Binance's servers, access data, and monitor transactions. The report claims this case is an example of US overreach in seizing global virtual currency assets.
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What Happened When
- 2020：
- According to the report, the cold wallet of the 'LuBian' mining pool was breached and bitcoins controlled by Chen Zhi were stolen by a U.S. state-level hacking group.
- Between 2022 and 2025：
- The U.S. government seized more than $30 billion in virtual currency assets worldwide.
- Between 2023 and 2025：
- U.S. authorities pursued actions against Binance and Zhao Changpeng, culminating in a $4.3 billion fine and forfeitures; U.S.-backed hacker groups targeted more than 20 major global cryptocurrency exchanges.
- October 2025：
- The U.S. Attorney’s Office for the Eastern District of New York announced criminal charges against Chen Zhi and disclosed the forfeiture of approximately 127,000 bitcoins (valued at about $15 billion).
- November 2025：
- The NCVERC published a technical analysis claiming evidence that the bitcoins had been seized in 2020.
- January 2026：
- Chen Zhi was extradited from Cambodia to China.
- By January 2026：
- The global market capitalization of virtual assets reached about $2.73 trillion.
- February 26, 2026：
- A group of Chinese state-backed cybersecurity organizations released the report detailing U.S. seizures of virtual assets.
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