What happened?
Wallets tied to Chinese mining pool LuBian moved 15,959 BTC — about $1.83 billion — to four different addresses on Wednesday. This is the second big transfer in under two weeks after an 11,886 BTC move on October 15, and it links back to the largest confirmed Bitcoin theft from 2020. Observers say these aren’t the original seized coins, the addresses remain sanctioned, and the alleged controller Chen Zhi is still on the run.
Who does this affect?
This affects anyone with exposure to Bitcoin: traders, institutional holders, exchanges and everyday investors who could see price swings. It also matters to law enforcement and victims tied to the original LuBian theft and to regulators watching big seizures like the UK’s 61,000 BTC case. Sanctions and legal action limit where the coins can move, but uncertainty about who controls the funds adds risk for market participants.
Why does this matter?
Moves of this size can raise selling pressure and spike volatility, especially after Bitcoin reversed a 3.5% pump and sits around $107k–$108k. Traders will be watching technical support in the $107k–$112k zone and the upcoming U.S. CPI print for directional cues, since an inflation surprise could push risk assets lower and amplify any dump. If support holds we could see a rebound toward $117k, but if these wallets or authorities start liquidating coins the downside could be sharp and fast.