New Startup Accuses ConsenSys of IP Theft in its Own Incubator

News • 2020/07/16 • by Remitano

BlockCrushr, a new blockchain fintech based in Canada, has accused ConsenSys of theft, saying it stole its proprietary technology after it took part in the incubation program organized by ConsenSys. They have registered litigation in New York, claiming ConsenSys stole confidential transaction information.

The complaint stated that $100,000 was spent in BlockCrushr by ConsenSys to fund the program’s launch. They claimed to have given ConsenSys access to all the areas of their commercial, professional, administrative, and selling approach, plus the transaction platform code.

BlockCrushr also claims to have shared their significant assets, which include; the source code and proprietary professional outcome.

However, in March of last year, ConsenSys purportedly stopped communicating with the startup all of a sudden. ConsenSys failed to grant extra financing it had formerly pledged, causing BlockCrushr to lay off many of its staff. The registered litigation requests a permanent ruling, statutory expenses, damages, and release of revenue gotten from this purported thievery of BlockCrushr proprietary technology.