Moore Thread can be described as "ice and fire" in the past few days - before the applause of the Science and Technology Innovation Board ringing the bell has dissipated, an old account has been turned over.

On December 5, the company, known as the "first domestic GPU stock", was officially listed for trading. At the opening moment, the stock price soared directly from the issue price of 114.28 yuan to 650 yuan, an increase of nearly 469%, and the market value once broke through the 300 billion mark. The enthusiasm of the capital market for hard technology was vividly demonstrated on this day.

But the good times did not last long. Two days later, an interaction on social media by Xu Xingxing, the founder of a leading digital currency trading platform, brought a long-stricken debt dispute to the surface again - the spearhead was Li Feng, the suspected co-founder of Moore Threads.

Time is set back to June 2018. Xu Xingxing once publicly "collected debts" in the circle of friends, claiming that Li Feng borrowed 1,500 bitcoins and disappeared. According to the market at that time, the money was worth about 80 million yuan. He also posted a loan agreement and video evidence, saying that he had sued and applied for a freeze of property in the courts of China and the United States.

The details of the agreement show that the loan first began in 2014 and was later renewed several times, and the agreed repayment date was the end of 2017. The price of Bitcoin is no longer what it used to be—at current prices, the debt has ballooned to $135 million, equivalent to more than 950 million yuan.

Li Feng gave a completely different statement through social channels at the time: this is not a loan at all, but Xu Xingxing's investment in a blockchain project. Before the project was done, the other party changed his statement and asked for money.

Both sides have their own words, and how the truth is still a mystery.