Once the internet download king, Thunder, is now once again the focus of public opinion due to a senior management criminal case. According to litigation materials, the company's former key person in charge, Chen Lei, faces charges of embezzlement—he carefully transferred assets through a shadow company, involving over 200 million yuan. Even more astonishing is that tens of millions of this huge sum were diverted for other uses, including Bitcoin speculation and mining investments. This case not only exposes corporate governance loopholes but also reveals the mentality of some participants in the crypto market: once they control large amounts of funds, it becomes difficult to resist the temptation of speculation. From a once tech superstar company to a negative example, Thunder's story serves as a warning to the entire industry—standardized operations, transparent governance, and risk isolation are not options but bottom lines.