Xunlei Corporation has filed a lawsuit against its former CEO, Chen Lei, and his core team, accusing them of misappropriating company funds for illegal cryptocurrency trading. The lawsuit, seeking damages of up to 200 million yuan, has been accepted by a court in Shenzhen. Chen Lei is alleged to have used tens of millions of yuan for cryptocurrency trading, which is prohibited by the state. Reports indicate that Chen Lei left the country in early April 2020 to evade investigation.