Matter Labs Faces Legal Heat as BANKEX Alleges IP Theft in Blockchain Tech Spat

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2025-04-22 18:29:36

Matter Labs sued by BANKEX over alleged theft of technology

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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