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Zuoxing Yang

Bitmain Founder Rival Held by Police Over Possible IP Dispute

November 8, 2019 at 4:05 PM | By Jit Sutradhar News

Zuoxing Yang, founder and CEO of Shenzhen-based bitcoin miner MicroBT maker, was arrested by the local police to assist in the investigation, CoinDesk has learned.

Investigation of the possibility for alleged violation of intellectual property rights by companies associated with the technology of Beijing-based rival mining giant crypto Bitmain, according to one source close to MicroBT with knowledge of the matter. The news was first reported by Chinese news source crypto BlockBeats.

The source confirmed to CoinDesk that Yang was taken away by the local police in late October – after the unexpected return to Bitmain of Jihan Wu, founder of the company. Wu mastered Bitmain last week to expel the other company co-founder and then chairman Micree Zhan.

Which was formerly design director at Bitmain processor, responsible for developing the company’s flagship AntMiner S7 and S9 models around 2016. However, he left the company and raised more than $ 20 million to establish MicroBT – which produces various WhatsMiner mining device – after discussion with Zhan and Wu for stock options fall.

Bitmain has sued Yang and his company in 2017 over alleged patent infringement related Bitmain given to technology-bitcoin miners. In 2018, the legal team The successful appeal to the courts in China have the patent revoked, after the case was dismissed.

The source said that at this point it is not clear how and why the police investigation has been opened on possible violations of intellectual property rights.

MicroBT has recently increased competition pose a manufacturer of top miners such as Bitmain and Canaan, which grew its market share in bitcoin mining industry.

CoinDesk Company does not respond to requests for comment at press time. Bitmain not want to comment when asked.

Yang Zuoxing image courtesy of Poolin

This article is republished from coindesk.com. If you have any questions, objection or any other matter you can contact us. Thank you for visiting our website.

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