• Wed, 21 Aug 2019, 03:37 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Crypto exchange Coinbase faces infringement lawsuit by patent troll

“Man holding magnifying glass over Coinbase logo” by Marco Verch, available under a Creative Commons Attribution 2.0 Generic license at https://www.flickr.com/photos/[email protected]/29421955997/in/photostream/.

Mon, 08 Jul 2019, 06:04 am UTC

American cryptocurrency exchange Coinbase has been hit with a lawsuit for allegedly infringing a registered patent.

The claimant, Anuwave, LLC, filed a complaint in Delaware’s Federal District Court on June 27, 2019. The Texas-based, intellectual property (IP) monetization firm is seeking financial compensation from Coinbase, based on an “accounting of all infringing sales,” according to Yahoo Finance.

Interestingly, the patent in question is related neither to cryptocurrency nor distributed ledger technology. Instead, Anuwave claimed that the “Coinbase Text Notification” service, which enables the exchange’s users to use an “SMS-enabled mobile device to perform certain actions using text commands” is violating its patented technology.

Anuwave was granted U.S. Patent no. 8,295,862 in 2012 for a “method and system to enable communication through SMS communication channel.” However, according to Unified Patents, the IP Edge affiliate is a well-known non-practicing entity (NPE), which reports suggest is a nicer way of saying “patent troll,” and an affiliate of IP Edge.

According to The Block, “companies often file patents to cover their technology for defensive purposes, but other times they attempt to ‘weaponize’ the patent system by filing patents for offensive purposes, i.e., suing people,” further noting that asserting patents and suing people are a “big business” in the Eastern District of Texas.


Since 2015, Anuwave has filed about 100 lawsuits against mobile banking providers and tech companies over alleged intellectual property infringements, including Avast, BitDefender, and Symantec.

Earlier this year, Argentina’s NEM Foundation partnered with CISPREN to develop a blockchain solution for copyright protection.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,631.20 (-1.94%)
  • Ethereum (ETH) $193.90 (-3.29%)
  • XRP (XRP) $0.271500 (-3.04%)
  • Bitcoin Cash (BCH) $312.02 (-3.27%)
  • Litecoin (LTC) $75.00 (-2.02%)
  • Bitcoin (BTC) $10,631.20 (-1.94%)
Aug 20, 2019 (Tuesday)
14:02
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:14
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
11:59
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:29
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
10:29
Israeli regulator seeks to expedite licensing procedures for fintech and blockchain firms
10:26
Crypto Technicals: Litecoin treads water below 200-DMA, bias bearish
09:26
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
09:03
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
08:00
New York court denies Bitfinex, Tether's lack of jurisdiction claim
07:16
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
07:15
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
06:39
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
06:35
Cybersecurity veteran David Damato joins crypto exchange Gemini
05:42
Deloitte unveils demonstrational platform for blockchain solutions
05:36
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
04:36
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
03:50
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
03:41
Philippines' central bank approves 2 new cryptocurrency exchanges
03:38
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
13:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft