#数字资产市场动态 Do you remember Wangke Cloud? This once "star project" is now rarely mentioned, but it suddenly made headlines again recently.

Former CEO of Thunder, Chen Lei, was suspected of embezzling tens of millions of dollars from the company to illegally trade cryptocurrencies, and the case was recently disclosed. Speaking of which, LinkToken is a memory for many people — don’t confuse it with Bitcoin’s LTC Litecoin.

The logic behind Wangke Cloud is actually quite good: by connecting hardware to the internet, contributing bandwidth and storage space, and earning LinkTokens as rewards. This "storage mining" concept was very popular around 2017-2018, rivaling later projects like Filecoin, since at that time, Web2 user base was large and market demand was strong.

But how did this gameplay go wrong? First, the hardware itself was hyped to absurd levels — originally costing a few hundred yuan, the second-hand price was driven up to thousands. Then came the rollercoaster of token prices: LinkToken soared from a few cents to over ten yuan, attracting a wave of investors. As you can imagine, early players indeed made money, but most later became bagholders. After 2018, regulators stepped in to tighten controls, the project was halted, and Chen Lei himself has gone overseas.

What does this case tell us? In the game of mining rigs and coin trading, you must always be cautious of seemingly perfect business concepts and crazy price surges.