360 Group: Yu Hong has never held a core management position at 360, and the so-called statements about "financial fraud" are completely contrary to the facts

The founder and chairman of 360 Group, Zhou Hongyi, issued a statement: Recently, Yu Hong maliciously slandered Mr. Zhou Hongyi, the founder of 360 Group, and several entrepreneurs in multiple WeChat groups, with extreme and false remarks that have had a serious negative impact.

The statement pointed out that the mentioned Yu Hong was the head of Gamewave, a gaming company that was acquired by Qihoo 360, the original U.S. listed entity of 360, more than a decade ago. Yu Hong joined a subsidiary of 360 in 2014 and left in 2015 for personal reasons, and during his tenure, he never held a core management position at 360 Group.

360 Group emphasized that the allegations of so-called "financial fraud" are seriously deviating from the facts. In response to the related malicious defamation, 360 Group stated that it will take legal measures according to the law to hold the relevant individuals accountable and resolutely safeguard the company's reputation and legal rights.

Previously, former 360 executive and XMAX founder Yu Hong harshly criticized 360 Group founder Zhou Hongyi late at night on WeChat Moments and in groups. He claimed that helping Zhou Hongyi cook the books amounted to at least tens of billions, and he has the data to prove it. He stated that all of Zhou Hongyi's games were involved in financial fraud. He also expressed that knowing Zhou Hongyi was the biggest mistake and that he had lost a lot of money because of him.