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) $7,105.01 (-0.14%)
  • Ethereum (ETH) $142.05 (+0.01%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $206.59 (-0.13%)
  • Litecoin (LTC) $43.30 (-1.23%)
  • Bitcoin (BTC) $7,105.01 (-0.14%)
Dec 14, 2019 (Saturday)
05:44
Darknet marketplace Hydra launching an ICO on Dec.16 to fund its global expansion
Dec 13, 2019 (Friday)
12:50
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:49
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:25
Crypto Technicals: BCH/USD edges above 5-DMA, near-term upside likely on break above 20-DMA (211.74)
11:24
Terra launches stablecoin-powered payments service in Mongolia
10:37
Crypto Technicals: Ripple (XRP) edges higher from session lows at 0.2154, 'Hammer' at lows raises scope for minor gains
10:22
Korean cybersecurity firm partners with R3 for digital asset management and MPC technology
08:55
SEC charges Shopin’ founder with orchestrating ICO fraud; Accused deactivates social media, Telegram account
08:55
Crypto exchange Kraken looking for operations director to helm ‘special-purpose depository institution’
07:49
Twitter looks to blockchain to decentralize social media
07:03
Crypto Technicals: LTC/USD flashes signs of recovery, 'Dragonfly Doji' and 'Bullish Divergence' could support minor upside
06:22
ING bank developing custody project for digital assets: Report
06:18
Basel Committee on Banking Supervision mulls designing global prudential standard for crypto-assets
05:28
Franklin Templeton leads blockchain-based social impact platform’s funding round
04:58
Crypto Technicals: BTC/USD breaks above 50H MA, 'Bullish Divergence' could support further gains
04:44
TokenSoft submits transfer agent filing to the SEC; Decision to arrive in 30 days
04:33
Crypto Technicals: ETH/USD recovery lacks traction, upside capped at 5-DMA
04:33
Glencore joins Responsible Sourcing Blockchain Network for tracing cobalt
03:24
Grant Thornton releases second report on Cryptopia liquidation; Pulls back nearly $5M from various sources
03:23
Chainalysis launches compliance solution for Bitfinex amidst class-action lawsuit
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft