LuBian-Linked Wallet Moves $1.3B in Bitcoin Hours After DOJ’s $15B Forfeiture Bombshell

A dormant wallet tied to the Chinese Bitcoin mining pool LuBian has suddenly transferred nearly $1.3 billion in Bitcoin, just one day after the U.S. Department of Justice (DOJ) unveiled a massive $15 billion crypto forfeiture case linked to alleged money laundering through international mining operations.

Blockchain analytics firm Lookonchain flagged the movement on Wednesday, noting that the wallet—silent for almost three years—moved 9,757 BTC (around $1.1 billion) to a series of new addresses.

Hours later, data from Arkham Intelligence showed an additional 2,129 BTC—worth roughly $238 million—was also transferred. In total, 11,886 BTC, valued at $1.3 billion, were shuffled across fresh wallets in what appears to be one of the largest on-chain shifts in recent months.

The suspicious timing has ignited intense speculation across the crypto community. The transfers came less than 24 hours after the DOJ unsealed an indictment against Prince Holding Group, a Cambodia-based conglomerate accused of laundering billions through a global crypto-mining network, including LuBian.

While there’s no official confirmation linking the wallet activity to the DOJ case, the coincidence has raised eyebrows. Analysts suggest the movement may represent a “defensive maneuver”—a preemptive effort to hide or secure assets as law enforcement tightens its grip on the broader network. One blockchain investigator said

“This kind of timing is rarely random. When the DOJ names a connected entity in a multi-billion-dollar forfeiture case, anyone even loosely linked tends to move funds fast.”

Prince Holding Group’s Alleged Laundering Network

The DOJ’s case centers on Chen Zhi, chairman of Prince Holding Group, and his associates, who allegedly ran a sprawling fraud and laundering network spanning Cambodia, Laos, China, and the United States.

According to prosecutors, the organization funneled illicit proceeds into crypto mining firms such as Warp Data, its Texas-based subsidiary, and LuBian, which became one of the world’s largest Bitcoin mining pools in 2020. These companies were allegedly used to generate “clean” Bitcoin, masking the origin of dirty funds through legitimate mining operations.

Prosecutors claim the forfeiture—totaling $14.4 billion in Bitcoin—represents one of the largest crypto-related seizures in U.S. history. The seized assets are already under government custody and will be subject to forfeiture if convictions are secured on charges including wire fraud and money laundering conspiracy.

If approved, the forfeiture could dramatically expand the U.S. government’s digital asset holdings. In March 2025, President Donald Trump signed an executive order establishing a strategic Bitcoin reserve, designed to store and manage government-owned crypto seized through criminal and civil actions.

White House AI and digital asset adviser David Sacks said at the time that the reserve would serve as both an economic buffer and a national security tool, integrating Bitcoin into the nation’s fiscal framework for the first time.

A Nervous Market Watches Closely

For now, the sudden LuBian-linked transfer leaves more questions than answers. Was this a routine movement by a long-dormant wallet—or a panic response to mounting legal pressure following the DOJ’s crackdown?

Given that LuBian was named in federal filings as part of the broader laundering network, many analysts view the timing as more than mere coincidence. The wallet’s abrupt activity could signal fear of asset tracing or anticipation of enforcement actions extending beyond the Prince Group case.

Either way, the episode highlights the growing entanglement between crypto mining, international finance, and law enforcement, as authorities across jurisdictions race to untangle billions in digital wealth—and those holding it scramble to stay one step ahead.