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Intellectual Property

Aug. 9, 2024

Crypto wallet founders seek dismissal of suit accusing them of trade secret theft

Defense lawyers say the allegedly stolen code had no value because it was open source. Plaintiffs say that its then-novel features meant the code qualified as a trade secret.

Attorneys for three of the partners behind a cryptocurrency wallet once valued at $7 billion asked a San Franciso judge on Thursday to toss a trade secrets theft and breach of contract lawsuit brought by a tech entrepreneur who claims they "misappropriated" a monetization plan later used to launch their product, MetaMask.

MetaMask launched in 2016 under software company Consensys Inc. as a browser extension that allowed users to access the Ethereum blockchain network and...

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