We recently reported that Bitmain’s chief financial officer, Luyao Liu, was arrested after allegedly participating in an attack in Beijing. However, recent updates suggest that this was not the case.

At the time, sources claimed that the attack was against the company’s ousted co-founder, Micree Zhan. Local reports suggest that police took Liu away after Zhan stole a business license for the mining giant’s main subsidiary, Bitmain Beijing.

Bitmain CEO allegedly arrested for ordering assault on co-founder Micree Zhan

According to CaiXin’s news:

“According to Caixin’s reports, the party was Bitmain’s CFO and legal representative, Liu Luyao, and others. Bitmain’s founder, Wu Jihan, asked him to intervene; the other party was the co-founder, Micree Zhan, who was expelled from the company, and his two lawyers”.

Micree Zhan says he was removed from Bitmain without consent

Business scene: no mobs involved
The Haidian District Market Oversight Administration said in its notice

“According to the decision of the Beijing Judicial Administration, it is now necessary to issue a business license to the company’s registered legal representative and return the (previous) business license within a time limit.”

Crypto giant Bitmain confirms problems with Antminer S17 units
When the business license was to be given to , , , , Zhan, the people of Bitmain quickly took it away. A reporter from Coffin heard Liu Luyao say

“The business license belongs to the company’s property, how can it be granted to an individual?”

Media reports at the time claimed that Liu Luyao was arrested by the police. However, Bitmain responded that this was just a rumor. Caixin’s reports claim that all parties are cooperating with the police.