- They accuse the exchange of trademark infringement
- The trademark rights of “Huobi” belong to X-Spot Co
The owner of analytics company X-Spot Co and founder of the Huobi exchange, Li Lin, accuses cryptocurrency firm Huobi Global Limited of illegal trademark use. He even formally sued the company in the High Court of the Hong Kong Special Administrative Region.
The statement writes that X-Spot Limited retains rights to the trademark, which Huobi Global Limited used without permission. In transferring the company’s shares, from the original shareholders to About Capital Management, they agreed to retain exclusive rights to the trademark.
They also agreed that these rights would not be transferred to the buyer or the stock exchange itself. The capital and asset transfer agreement between the two parties clearly states that the buyer is prohibited from using the “Huobi” trademark and brand.
About a month ago, Huobi CEO and Tron founder Justin Sun made allegations against Huobi founder Lee Wei’s brother. He claimed that Wei purchased the Huobi native token (HT) at zero price and sold it for a huge amount of cash.
He claimed that Wei purchased the Huobi native token at zero price and sold it for a huge amount of cash.