A user accused Flipped mining-related party KOL Michael of allegedly embezzling 1.0166 BTC, with no success in defending their rights

ChainCatcher news, according to X platform user Web3 Tim, who publicly revealed that since 2021, he has been purchasing mining machines through KOL Michael's live broadcasts and has continuously added funds, with a total investment exceeding $140,000.

In June 2025, after paying over $36,000 in electricity bills, this user applied to withdraw 1.0166 BTC but has never succeeded. In response, Michael initially claimed it was due to "lost private keys" and promised to "gradually return" the funds; later, he proposed a "discount withdrawal" solution, but none of the aforementioned promises were fulfilled.

Subsequently, the user's Flipped account was frozen, and he was removed from related community groups. According to the rights protection user, on August 27, during the Hong Kong Bitcoin conference, Michael once again verbally promised to address this issue, but as of now, there has been no progress. The user has reported the case to the police and sent a lawyer's letter, and will continue to protect his legal rights through legal means.