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Former Bitmain employee and MicroBT founder arrested

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Yang Zuoxing, a former employee at Bitmain and founder of MicroBT, is being investigated by the Chinese police over an intellectual property dispute against Bitmain. Yang left the Bitmain in 2016 and founded MicroBT, the maker of WhatsMiner bitcoin miners. Bitmain had initially demanded $3.7 billion in damages.

According to the Chinese news outlet, the CEO of MicroBT and the former employee of Bitmain Yang Zuoxing has been arrested by the police over an intellectual property dispute filed by Bitmain. Yang was responsible for designing Bitmain’s leading miners, who left the company in 2016 after he was denied equity stake in the company by its co-founder Micree Zhan.

 

Bitmain sued MicroBT over patent rights.

Yang formed his own company after leaving Bitmain, which went on to become one of the main rivals of Bitmain. Soon after the launch of MicroBT, Bitmain filed a lawsuit against the company over patent rights. But the court dismissed the case on the grounds that the circuit designs in questions were widely used, as reported by Bloomberg.

Bitmain also sued three former employees who started a mining pool earlier this year. The company is seeking $4 million in damages as they alleged that former employees violated their non-compete agreements.

 

Bitmain’s civil war continues.

Earlier this month, Bitmain’s co-founder Micree Zhan was abruptly ousted from the company. However, Zhan revealed that he would take legal action against the company for removing him without his consent as he promised to join back Bitmain soon.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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