The ousted co-founder of the China-based bitcoin mining machine manufacturer giant Bitmain, Micree Zhan has accused Jihan Wu of engaging in illegal activities including, theft as well as the wrongful use of the company’s money. The current power struggle going on at Bitmain continues to attract the attention of the crypto community. The “civil war” at the Bitmain has escalated in the last few months as Micree Zhan won a minor legal battle in his way to claim back his previous position at the company.
Micree Zhan accuses Jihan Wu of several illegal activities.
The ousted co-founder of Bitmain, Micree Zhan, shared a list of illegal activities that Jihan Wu, the co-founder of Bitmain, had indulged in. Hashkey Hub’s Mo Li in a series of tweets translating Zhan’s list from Chinese, Li suggested that people sell their BCH as Jihan Wu could end up behind bars following Zhan’s announcement. The ousted co-founder alleged that he possesses 36% shares of Bitmain in Cayman as well as 59.6% voting rights. Zhan suggested that change in authority without his supervision was impossible.
Time to sell all your bch, Jihan might go to jail. Micree posted a announcement, listed all the illegal things that Jihan did in the past. In that announcement Micree said he has 36% company share of Bitmain in Cayman, 59.6% of voting rights… pic.twitter.com/xkau24dFrH
— Molly (@molllliy) June 22, 2020
Wu devised a shareholders’ meeting to remove Zhan from the company.
According to Micree Zhan, Wu had reportedly unilaterally devised a shareholders’ meeting where he was stripped of his voting rights and was removed from his post as the director of the company. Micree Zhan also alleged that the meeting never took place. In a series of allegations, the ousted co-founder also said that Wu took over Bitmain HK and stole the business license along with the stamp of the Beijing office to change the hierarchy. If accusations made by Zhan hold any truth, then Jihan Wu is in a lot of trouble. Zhan further accused Wu of spreading rumors on behalf of the company. He stated that Wu is used to putting his will above the law. What he has done fully reflects his ignorance of the law.”