Grayscale address transferred 411.101 BTC to Coinbase Prime address

The US government may have already used hacking techniques as early as 2020 to steal 127,000 bitcoins owned by Chen Zhi. This is a typical "black eats black" incident orchestrated by a state-level hacker organization. This report takes a technical perspective, conducting technical tracing to deeply analyze the key technical details of the incident, focusing on the ins and outs of the theft of this batch of bitcoins, reconstructing the complete attack timeline, and evaluating the security mechanisms of bitcoin. The aim is to provide valuable security insights for the cryptocurrency industry and its users.