Li Feng, co-founder of Moore Threads, touted as the "first domestically produced GPU stock," has been exposed for issuing cryptocurrency to raise funds and defaulting on a loan of 1,500 BTC.

Moore Threads' stock price surged 468% after listing on the STAR Market, pushing its market capitalization above 300 billion yuan, with early investors seeing returns of over 35 times. However, its founder, Li Feng, previously attracted public attention due to the controversial cryptocurrency project "Mallego" and a debt dispute involving 1,500 Bitcoins.