BANKEX Sues Matter Labs Over Alleged Intellectual Property Theft
BANKEX, a former blockchain company, has filed a lawsuit against Matter Labs, the creator of Ethereum Layer-2 solution ZKsync. the complaint accuses Matter Labs of stealing intellectual property related to early Plasma technology.
The lawsuit, filed in New York State Supreme Court, targets former BANKEX employees Alexandr Vlasov and Petr Korolev. It claims they misused company resources to develop Matter labs while still employed at BANKEX.The suit alleges they secretly stored codebases and transferred BANKEX’s technology while still on the company’s payroll.
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.
The complaint links this early development to the foundation of ZKsync. Vitalik Buterin, co-founder of Ethereum (ETH), initially commissioned BANKEX in 2017 to help build Plasma, a framework for scaling Ethereum. 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.
