Bitmain’s co-founder Micree Zhan has threatened legal action against his former company after being abruptly removed from his position last week.
In an open letter published to his WeChat account on Nov. 7, Zhan says he is willing to take legal action against the crypto mining conglomerate in order to return to the firm. According to Zhan, he was removed from his position as Bitmain’s legal representative without consent while on a business trip, despite being an original co-founder.
BREAKING: Micree Zhan just sent a open letter to all Bitmain employees confirming that he was removed as the legal representative of the company without consent, and that he will take back control of the company through legal channels. #BitmainDrama #CalledIt ?? pic.twitter.com/PTGyof57qt— Samson Mow (@Excellion) November 7, 2019
I have never thought that as a person focusing on technology and product, I have to start thinking from legal perspectives. It was embarrassing that as a Bitmain co-founder, the biggest shareholder, and a registered legal representative, I got ousted without any knowledge in this coup while on a business trip.
He added that he didn't realize "until then that those scenes in TV shows, where you get stabbed on your back by those partners your trust and 'brothers' you fought together with, can happen in real life."
Zhan told Bitmain employees and shareholders that he intends to return to the company “as soon as possible through legal methods.”
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