China’s “Huawei Prodigy” Li Bojie Fires Back at ABCDE Capital’s Du Jun: The $1 Million Investment Owed Was Not Paid, Yet He Took 1.5 Million Shares for Free!

Huawei "Genius Youth" Turned Web3 Scammer Who Took Money and Ran? In Response to ABCDE Capital Du Jun's Severe Accusations, Former Metagent Co-Founder Li Bojie Fights Back Today, Revealing Shocking Inside Story of Venture Capital: The Investor Promised $1.5 Million Investment "But Owes $1 Million," Yet Claims Full Equity in the Cap Table! Li Bojie Clarifies That He Left "Legally with Board Approval" Due to Mainland China Regulations and Family Reasons, Denying Any Disappearance or Breach of Contract. This Dramatic Clash Between Top-Tier Venture Capital and Star Entrepreneur Is Sparking Heated Discussion in the Community.
(Previous Summary: China's "Huawei Genius" Li Bojie Slams DeepSeek's Absurd Interview: Second Round Still Attacked for Plagiarizing Code)
(Background: Apple Reportedly Lobbies Trump Administration to Approve "Purchase of Chinese Memory"; Analyst: Without CXMT DRAM, Hard to Compete with Huawei)

Table of Contents

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• Du Jun Accuses "Took Money and Ran," Li Bojie Retorts with "Free Equity"
• Clash of Narratives: Du Jun’s Accusations vs. Li Bojie’s Counterattack
• China’s Compliance Pressure the Trigger? Netizens Mock: "How Can They Talk About Running When the Money Wasn’t Even Paid?"

A social media clash between a top venture capital partner and a star genius entrepreneur has completely ripped off the veil of the Web3 capital circle.

On July 7, 2026, Li Bojie (@bojie_li), current Chief Scientist at Pine AI and former co-founder of Metagent—once hailed as a Huawei "Genius Youth"—issued a bombshell statement on X (formerly Twitter), directly countering the devastating accusations made by ABCDE Capital's Du Jun that Li had "no contract spirit, took the money, and disappeared."

The investment agreement specified a total investment of $1.5 million from your firm, but only $500k was received, with the remaining $1 million never coming through. Yet the company's cap table has always recorded your equity based on the full $1.5 million share. Because the investment funds were delayed, my co-founder and I voluntarily lowered our salaries, and the company's hiring and R&D faced difficulties. In October 2024…

— Bojie Li (@bojie_li) July 7, 2026

Du Jun Accuses "Took Money and Ran," Li Bojie Retorts with "Free Equity"

The incident originated from Du Jun's public naming and shaming on social media, accusing Li Bojie of refusing to fulfill the obligation to update business and financial progress after receiving investment from ABCDE Capital to start the Web3 project Metagent in 2024, and even disappearing. Du Jun harshly criticized: "Venture capital can accept project failure, but absolutely cannot accept fraudulent behavior of taking the money and running."

Facing the label of "scammer," Li Bojie could no longer hold back. In today's response, he directly showed his cards, pointing out that the conflict was not about the founder running away, but "the investor failed to pay the full amount." Li stated in his statement:

"The investment agreement stipulated a total of $1.5 million from your firm, but only $500k was received, and the remaining $1 million has never arrived. However, the company's cap table has always recorded your equity based on the full $1.5 million share."

Li Bojie complained that precisely because ABCDE Capital's funds were delayed, the company's hiring and R&D faced serious difficulties, even forcing him and the co-founder to voluntarily cut salaries to keep the business running.

Clash of Narratives: Du Jun’s Accusations vs. Li Bojie’s Counterattack

To clarify the dispute, the following is a comparison of the two sides' statements on the core contentious points:

| Point of Contention | | --- | Du Jun (ABCDE Capital) Accusations | Li Bojie (Ex-Metagent CTO) Counterattack | | --- | --- | --- | | Investment Funds & Equity | Accused Li Bojie of "taking the money" and leaving the project unfinished. | Agreed $1.5M, only $500K paid, but equity was recorded in Cap Table as the full $1.5M share. | | Information Sharing & Disappearance | Refused to fulfill obligation to update business and financial progress, maliciously disappeared. | Fulfilled CTO duties of regularly disclosing cap table and business status until resignation. | | Resignation Process & Non-Compete | Abandoned the project, no contract spirit. | Resigned legally with board approval in October 2024 due to family reasons and Web3 compliance issues in Mainland China; subsequent startup avoided non-compete areas. |

China’s Compliance Pressure the Trigger? Netizens Mock: "How Can They Talk About Running When the Money Wasn’t Even Paid?"

Beyond the funding dispute, Li Bojie also expressed the helplessness of many Chinese Web3 entrepreneurs. He explained that in October 2024, due to personal family reasons, he could not leave mainland China, and under the regulatory environment at the time, "Web3 projects are not compliant in mainland China." Therefore, he chose to officially resign from Metagent, a decision that was "approved by the board."

Furthermore, he emphasized that he strictly adhered to the non-compete clause in the agreement, consciously avoiding direct competition areas such as Web3, AI infrastructure, and image generation in subsequent projects (like Pine AI).

After Li Bojie’s well-grounded counterattack was published, the sentiment began to shift subtly. Although the post has not yet gone viral in terms of interaction, many industry insiders have pointed out in related discussion threads a common malpractice in the Web3 VC circle: "promising to wire funds but paying in installments and delaying, while taking full equity upfront." A netizen hit the nail on the head with a comment: "Since the investment was never fully paid, how can the investor accuse someone of taking money and running?" How this dramatic VC mystery will end awaits further response from Du Jun.