Vlad Zamfir, the researcher at Ethereum Foundation, working on an alternative blockchain called Casper. Zamfir has accused Switzerland-based CasperLabs of using Casper in marketing materials for CasperLabs in a way that might mislead potential investors, ahead of anticipated fundraising, scheduled for the coming three days. Vlad Zamfir Files Lawsuit Against CasperLabs The blockchain research and development company CasperLabs has ties to former U.S. presidential candidate Brock Pierce and cryptocurrency investor. Vlad Zamfir, who filed the lawsuit against CasperLabs in California last week, began working with the company in February 2019. He joined as a lead architect there. Zamfir quit CasperLabs in October 2019, claiming the company didn’t meet promises to fund his Casper blockchain research and was “misleading” investors. The complaint reads: “Mr. Zamfir became concerned that CasperLabs was misappropriating his name and falsely asserting affiliations with him in a manner that was misleading CasperLabs’ investors and to take advantage of Mr. Zamfir and his reputation.” Last October, CasperLabs declared that it had raised $14 million in a private token sale, with crypto fund Digital Strategy leading the sale that involved Hashkey Capital, Consensus Capital, and RockTree Capital. Back in 2019, CasperLabs concluded a funding round worth $14.5 million. CasperLabs Response to Lawsuit A CasperLabs spokesperson said in an emailed statement, “CasperLabs vigorously disputes the trademark claims made by Vlad Zamfir in the lawsuit he filed in San Diego.” He added, “CasperLabs prides itself on its innovation, and it will not shy away from this litigation. We have a duly registered trademark on “CASPER” in the U.S. and will be responding to Mr. Zamfir’s lawsuit shortly in court. In the meantime, we remain focused on Casper’s upcoming mainnet launch and other company milestones as we continue to support the growth of Casper’s global community.” However, Representatives for Pierce did not respond when asked for comment. Venture capitalist, Tim Draper tweeted last year: “The team at CasperLabs has built an essential blockchain platform for real-world applications without sacrificing the essential components of usability, cost, decentralization, or security.”
The post Ethereum Researcher Accuses CasperLabs for Duping Investors, Files Lawsuit appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
