Beijing Police Arrests Bitmain CFO
Shutterstock
Main page News, China, Mining, Crypto Market

Bitmain Chief Financial Officer Liao Liu by has been arrested by Beijing police for participating in an attack against former Bitmain CEO Micree Zhan.

Last year, Zhan left his post as CEO of the mining company producer without any notice. Bitmain Co-founder Jihan Wu took his place.

According to the official email that was shared among the Bitmain staff, the executive director of Bitmain Jihan Wu decided to dissolve all the roles of Zhan.

Bitmain Antminer S17 and T17 Have High Failure Rates

In an attempt to regain control of the mining company and restore his position, Zhan filed several lawsuits in court, but the hearing scheduled for February 11 did not take place due to the coronavirus pandemic outrage.

According to Primitive Crypto representative Dovey Wan, Zhan got a Bitmain license from the Beijing Municipal Administration of Industry and Commerce as the legal representative.

Liu with a group of dozen people reportedly robbed Zhan by taking away papers, Wan says. In the meantime, Bitmain reminded that Micree Zhan is not the legal representative of the company.

Earlier iHodl reported Bitmain sued 1.2 million Chinese yuan (~$170,000) from former employees.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close