Blockchain Startup BlockCrushr Drops Lawsuit Accusing ConsenSys for Stealing its IP

Sahaj  |  Jul 29, 2021

BlockCrushr, the blockchain startup based in Canada, has recently come to an agreement of dropping an intellectual property (IP) lawsuit against the software engineering firm focused on Ethereum, ConsenSys. Describing the conclusion of the case, ConsenSys highlighted the value of aggressively countering meritless claims.

BlockCrushr Blockchain Startup and ConsenSys IP Lawsuit Dropped

On July 27, the two companies filed a joint agreement for the dismissal of the lawsuit with the terms of the deal banning BlockCrushr from making an attempt to pursue the matter in the future. 

ConsenSys has designated the agreement as a win for its position and stated:

“BlockCrushr has dismissed the lawsuit with prejudice after review of the evidence provided in discovery established that BlockCrushr's claims were entirely without merit.”

In addition to this, the Lead Counsel of ConsenSys, Tibor Nagy said:

“This is an important and complete victory for ConsenSys and illustrates the value of aggressively combating meritless claims."

The complaint was filed back in the month of July of the year 2020, and it claimed that ConsenSys launched its Daisy Payments recurring payments platform the day before BlockCrushr had planned to bring its own product to market in June 2019.

More About the Tachyon Accelerator Program

As it has already been revealed by BlockCrushr, it had received a $100,000 investment from ConsenSys and was admitted into its Tachyon accelerator program. 

The blockchain startup alleged ConsenSys that the firm was using trade secrets and inside information obtained through the program in order to front-run its own product to market before BlockCrushr.

In addition to this, BlockCrushr claimed:

“Every aspect of its marketing, financial, technical and regulatory strategy was shared with ConsenSys during the Tachyon program, including the source code and proprietary technology solution to its recurring payments platform.”

Also, it should be noted that IP enforcements have been seen as antithetical to the core ethos of crypto of the decentralized open-source development.

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