Zhou Hongyi Clarifies: Yu Hong Never Served in a Core Management Position at 360, and Claims of "Financial Fraud" are Completely Contrary to the Facts

On December 16, 360 Group founder and chairman Zhou Hongyi issued a statement denouncing malicious defamation by a former associate. The statement identifies the individual as Yuhong, who previously led Gamewave—a gaming firm acquired over a decade ago by Qihoo 360, 360’s original U.S.-listed entity. Yuhong joined a 360 subsidiary in 2014, left in 2015 for personal reasons, and never held a core management role at 360 Group during his tenure. 360 stressed that claims of "financial fraud" and similar accusations are **completely inconsistent with the facts**. In response to the malicious slander, the company said it will take legal action to hold the individual liable and defend its reputation and legal rights. Earlier today, BlockBeats reported that Yuhong—also the founder of XMAX—launched a scathing attack on Zhou late at night across WeChat Moments and group chats. He alleged he helped Zhou falsify accounts totaling at least tens of billions of yuan, claimed to have evidence, and threatened to release it publicly online. Yuhong also stated all of Zhou’s gaming-related finances are fabricated, expressed regret for knowing Zhou, and claimed he was defrauded of a large sum of money.