The digital wallet company Blockchain, once known as Blockchain.info, has filed a lawsuit against a startup with a similar name.
Blockchain the company (as opposed to the technology) said it wants to avoid any confusion with Blockchain.io, which was just about to begin an initial coin offering. According to Blockchain’s filing, it doesn’t want investors to think it is behind the ICO of a company it claims has been less than honest.
The suit names Paymium SAS, the company behind Blockchain.io, and founder Pierre Noizat as defendants. Blockchain claims Paymium has participated in “bad acts,” including the operation of the now-defunct crypto wallet Instawallet.
“As we allege in our complaint, blockchain.io is using our brand to cover up a history of hacking and theft of user funds. Worse, they are raising money in a dubious ICO they claim is ‘registered with the [U.S. Securities and Exchange Commission].’ There is of course no registration statement in place,” Blockchain told CoinDesk.
Considering the word “blockchain” has become a generic term, lawyers told CoinDesk Blockchain the company may not have much of an argument. Read more here.