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Matter Labs Faces Legal Heat as BANKEX Alleges IP Theft in Blockchain Tech Spat
Matter Labs Faces Legal Heat as BANKEX Alleges IP Theft in Blockchain Tech Spat
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Another day, another crypto courtroom drama—BANKEX throws the legal book at Matter Labs, accusing it of swiping proprietary tech. Will this end in a settlement check or just more billable hours for lawyers?
BANKEX and Plasma
Vitalik Buterin, co-founder of Ethereum (ETH), initially commissioned BANKEX in 2017 to help build Plasma, a framework for scaling Ethereum. The complaint links this early development to the foundation of ZKsync, which has since raised over $450 million and grown into a prominent Layer-2 network.
Matter Labs co-founder and CEO Alex Gluchowski, venture capital firm Dragonfly, and former board member Chris Burniske are also named in the suit.
CoinDesk reporting helped with the coverage of this news.
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