11 months ago

The Chinese cryptoinvestor and managing partner of Hangzhou Xiong’An Blockchain Fund, Li Xiaolai, announced his resignation because of the alleged defamation, CoinDesk reported.

A few months ago, a venture capitalist Chen Weising started an “Internet feud” against Li, making a series of offensive comments addressed to him.

For example, in June, he called Xiaolai a “fraud” and a “tumor” of the cryptocurrency sphere. Later he said that in 2013, Li received 30 thousand bitcoins from a group of investors to create a fund, but he could not return them. Cheng also expressed doubts about the fact that the local authorities really allocated the promised 30% of funds for the development of the blockchain-fund.

Li Xiaolai filed a lawsuit against the abuser because of the spread of defamatory information. In turn, Cheng promised to invite “victims” who allegedly suffered from Li’s actions to the court session.