Star responds to debt dispute with Moore Threads co-founder Li Feng: Debt issues to be handled by law.

According to ChainCatcher, Star responded on social media to the topic of "Moore Threads co-founder Li Feng borrowing 1500 BTC from Star and then disappearing without returning it," stating, "People cannot dwell in the shadow of negative history forever. Look to the future and contribute more positive energy. Let the law handle debt issues. Best wishes to every entrepreneur."

ChainCatcher previously reported that Moore Threads surged nearly 470% on its first day of trading on the STAR Market on December 5th, pushing its market capitalization above 300 billion yuan. However, at the same time, co-founder Li Feng's past controversies in the crypto industry have once again drawn attention.

The report points out that Li Feng, along with Li Xiaolai and others, participated in the issuance of a token project called "Malago Coin (MGD)" in 2017. This project raised approximately 5,000 ETH during the ICO boom, but its white paper was accused of exaggerating several aspects of the team's background and lacking transparency regarding the use of some funds. Under regulatory pressure, the project was later renamed "Alpaca Coin." Furthermore, in 2018, OKX founder Star publicly accused Li Feng of failing to repay a loan of 1,500 Bitcoins on time, and stated that legal proceedings had been initiated in both China and the United States.

The lending agreement shown by Star at the time indicated that the two parties first signed the agreement in 2014, and it was renewed in 2017 due to extension requests, but ultimately a default still occurred. Due to cross-border enforcement and legal issues regarding virtual assets, the dispute remains unresolved.