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 linked to the Chinese Bitcoin mining operation LuBian transferred almost $1.3 billion in Bitcoin a day after the United States Department of Justice (DOJ) moved to seize $15 billion in Bitcoin allegedly stolen from the mining pool in 2020.
On Wednesday, blockchain analytics firm Lookonchain flagged the movement, noting that a wallet linked to LuBian transferred 9,757 Bitcoin (BTC), worth about $1.1 billion at the time, to new wallets after a three-year period of dormancy.
According to Arkham Intelligence, the wallet later transferred another 2,129 BTC, worth about $238 million, on Wednesday, hours after the first transfer. This totaled 11,886 Bitcoin, worth about $1.3 billion at current market prices.
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Author: Ezra Reguerra
