BANKEX Sues Matter Labs Over Alleged Intellectual Property Theft
Matter Labs, the creator of Ethereum Layer-2 solution ZKsync, is in legal trouble. BANKEX, a former blockchain company, has filed a lawsuit accusing Matter Labs of stealing its intellectual property.
The lawsuit,filed in New York State Supreme Court,claims that two former BANKEX employees,Alexandr Vlasov and Petr Korolev,misused company resources. They allegedly diverted code and technology to build Matter Labs while still employed at BANKEX.
Plasma, a scaling solution for Ethereum, was initially commissioned by Ethereum co-founder Vitalik Buterin in 2017. BANKEX was tasked with developing this technology. The lawsuit suggests that this early Plasma work forms the basis of ZKsync, which has raised over $450 million.
Other parties named in the suit include Matter Labs co-founder Alex Gluchowski, venture capital firm Dragonfly, and former board member Chris Burniske. The complaint alleges they were involved in the alleged theft of BANKEX’s technology.
For more details on this legal battle, check the CoinDesk report.
