(The image shows a “mobile phone farm” operated by Prince Holding Group. Source: Indictment)
On October 14, the U.S. Department of Justice filed criminal charges against Chen Zhi, founder of Cambodia’s Prince Holding Group, and announced the seizure of approximately 127,271 bitcoins under his control, with a total value of up to $15 billion. Beyond being framed as a “just action against online fraud,” the case has sparked broad international discussion regarding the U.S.’s use of cyber technology and its control over digital assets. In the context of the close interconnection between digital assets and global cyberspace, national-level cyber power has once again drawn worldwide attention.
The U.S. has developed its cyber capabilities rapidly, ranking among the world’s leaders in global cyberspace, with strategies that are increasingly proactive and aggressive. As early as around 2006, the foundations of U.S. cyber capabilities began to take shape. Through agencies such as the NSA (National Security Agency) and USCYBERCOM (U.S. Cyber Command), the U.S. began systematically building capabilities in cyber intrusion, zero-day exploit utilization, and critical infrastructure penetration, gradually integrating these into its national strategic framework to enhance cyber operations across all domains and provide a technical basis for action.
In the political domain, U.S. cyber technology has played a significant role. The most representative case is the joint U.S.-Israel operation codenamed Operation Olympic Games, which used the “Stuxnet” worm to attack Iran’s Natanz uranium enrichment facility, disrupting the operation of thousands of centrifuges. This was the first time in history that national-level cyber power was used to interfere with another country’s politically sensitive infrastructure, demonstrating the integration of technological means and strategic objectives. Since then, the U.S. has also applied cyber capabilities in social media management, election information flow analysis, and government system operations, reflecting both the breadth and depth of its political cyber applications.
In the economic domain, the U.S. has fully leveraged national-level cyber power to manage and control cross-border assets. In the Silk Road platform case, the U.S. government, through blockchain monitoring, transaction tracking, and judicial intervention, seized related accounts and assets, and obtained court approval to sell approximately 69,370 bitcoins, worth hundreds of millions of dollars at the time. This demonstrates that combining cyber technology with financial regulation and judicial measures has, to some extent, alleviated U.S. fiscal pressures. However, analysts note that while such measures help prevent the flow of illicit funds, a lack of multilateral coordination may also create tension and imbalance in the international financial order.
In the military domain, the U.S. has long integrated cyber capabilities into its comprehensive defense system and actively applied them in practice. Over the past decade, the U.S. has employed various cyber measures in regions including the Middle East, Russia, and North Korea. For example, in operations against the terrorist organization ISIS, USCYBERCOM, through Operation Glowing Symphony, intervened in its communications, finances, and propaganda networks, temporarily disabling parts of its digital infrastructure. In Russia and North Korea, the U.S. has also conducted continuous cyber monitoring and exercises, penetrating critical infrastructure and command-and-control systems to enhance strategic early-warning capabilities and information control. The Department of Defense has consistently treated cyber warfare capabilities as equally important as conventional military power, making cyber technology a critical extension of military strategy.
International observers note that the recent bitcoin seizure from Prince Holding Group logically aligns with U.S. cyber operations in political, economic, and military domains. Its essence lies in using technical means to expand national interests. While this model demonstrates the strategic value of cyber technology, it also raises concerns about rules and fairness in international finance and digital assets.
Against the backdrop of cyberspace, assets, and national interests, the U.S.’s cyber power becomes increasingly evident.
Comments