Xunlei Sues Former CEO Chen Lei Over Alleged Cryptocurrency Misuse

Xunlei Sues Former CEO Chen Lei Over Alleged Cryptocurrency Misuse

Xunlei has escalated its claims against ex-CEO Chen Lei to RMB 200 million, renewing a legal battle over alleged embezzlement and illegal crypto activities dating back to 2020.

CORE

Fact Check
The evidence provided by the primary sources overwhelmingly supports the truthfulness of the statement. Multiple high-authority sources directly and explicitly corroborate every component of the claim.1. **Existence of the Lawsuit:** All provided sources, from the most authoritative (Yicai Global, Sina Finance) to social media posts and news briefs, consistently report that Xunlei has filed or restarted a lawsuit against its former CEO, Chen Lei. This core fact is undisputed across the evidence.2. **Specific Allegation of Cryptocurrency Misuse:** The most detailed sources provide explicit confirmation of this specific allegation. The Sina Finance article states one of the allegations is the embezzlement of company funds for "illegal cryptocurrency speculation." Similarly, the DoNews articles report that the allegations include embezzlement and "illegal crypto speculation" (非法炒币). This directly validates the "cryptocurrency misuse" part of the statement.3. **Consistency Across Sources:** While some sources use broader terminology like "corporate misconduct" (Yicai's social media posts) or "harming company interests" (Futu News), these descriptions do not contradict the more specific claims. Instead, they act as general summaries, with cryptocurrency misuse being one of the specific forms of alleged misconduct. There are no contradictions among the sources; they simply vary in their level of detail.In summary, the statement is directly supported by several credible, independent news outlets. The core facts—a lawsuit by Xunlei against Chen Lei, with allegations including cryptocurrency misuse—are consistently reported, leading to a high confidence level in the statement's accuracy.
Summary

Xunlei has relaunched its legal action against former CEO Chen Lei and his core team, increasing the damage claims to RMB 200 million. The Shenzhen case alleges misappropriation of company funds, illegal cryptocurrency trading, and other misconduct dating back to 2020, including accusations of embezzlement, fake contracts, and internal power struggles. The dispute stems from earlier allegations that corporate funds were diverted for unauthorized digital asset activities.

Terms & Concepts
  • Cryptocurrency: A digital or virtual currency secured by cryptography, enabling peer-to-peer value transfer without a central authority.
  • Crypto trading: Buying and selling cryptocurrencies on exchanges or over-the-counter markets to profit from price movements.