The Chinese e-commerce company, Alibaba, on Monday sued the Dubai-based owners of Alibabacoin for infringement of its trademark rights after the latter’s crowdsale. Alibabacoin Foundation ICO had raised $3.5 million and Alibaba Group Holdings Limited is unhappy that the company had used its brand to achieve that.
According to the suit filed in a district Manhattan court, Alibaba complained of the repeated and intentional misleading use of the Alibaba trademark to create the impression among the public that Alibabacoin is affiliated to the e-commerce company. US district judge, Kimber Woods, hours
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