Recently, Blockchain, a cryptocurrency company announced that they have filed a complaint in the US Federal Court against Blockchain.io, a cryptocurrency exchange platform which is yet to launch. The complaint was regarding the exchange platform using their name and promoting wrong information to their users. The exchange platform, launched by Paymium, is one of the first Bitcoin web-based exchange platforms in the world.
The CEO of Paymium, Pierre Noizat spoke to AMBCrypto regarding the allegations made by the cryptocurrency company. The CEO stated that Paymium had registered the portal in the month of April 2012 and the project was promoted a month ago.
Pierre Noizat further stated that they condemn the approach taken by Blockchain and that it does not comply with the value of the cryptocurrency community. He said:
“3 days prior to the start of the sale and a few weeks away from the official release of our platform, it is no surprise to us to be challenged by some potential competitors, for obvious reasons.”
The CEO continued to say:
“Moreover, Blockchain.io disputes the accusation of making false and misleading statements. What is at stake is the protection of our name, our reputationn, and our loyal investors and customers. For these reasons, our lawyers will answer point by point the claims made.”
Blockchain stated that their main concern was that Paymium had rebranded to a similar name as theirs which, in turn, caused a lot of confusion among the users in the market. Along with the name, the other similar features included the color of the domain, the logo and the tagline.
They also stated that Paymium was trying to conceal their identity because their popular Bitcoin wallet, Instawallet was hacked in the year 2013. This resulted in the platform losing their customers funds to the hack.
Blockchain further added that the exchange platform has falsely claimed to have registered with the U.S. Securities and Exchange Commission [SEC] to conduct their ICO. This, according to them, would result in investors being unable to publically trade the token. Furthermore, the exchange platform has no proof related to the ICO being regulated by the French ACPR.
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