According to some sources I have read online, Yang Zuoxing was arrested due to a case of embezzlement or misappropriating funds of about $15,000.
Yang stopped working for Bitmain in June 2016, more than 3 years ago. All this over a $15,000 dispute from before then? It certainly looks like Jihan Wu is using the Chinese government to go after his enemies:
Quote
Bitmain has waged several legal battles against prominent former employees.
The Beijing-based company last year lost a court ruling against MicroBT over allegations that Yang’s start-up infringed its patent rights.
Earlier this year, Bitmain filed a lawsuit against three former employees who started rival mining pool Poolin (幣印礦池) for allegedly contravening a non-competition agreement.
An internal power struggle within Bitmain has seen billionaire Wu Jihan (吳忌寒) kick cofounder Micree Zhan (詹克團) out of the company and it has been trying to tout new sales initiatives to lure customers.
The Beijing-based company last year lost a court ruling against MicroBT over allegations that Yang’s start-up infringed its patent rights.
Earlier this year, Bitmain filed a lawsuit against three former employees who started rival mining pool Poolin (幣印礦池) for allegedly contravening a non-competition agreement.
An internal power struggle within Bitmain has seen billionaire Wu Jihan (吳忌寒) kick cofounder Micree Zhan (詹克團) out of the company and it has been trying to tout new sales initiatives to lure customers.
