The founder and CEO of MicroBT, Zuoxing Yang was called upon by the local police to help in the investigation related to possible intellectual property (IP) breach case filed. This was files by its rival and his previous employer Bitmain. Founder and CEO of MicroBT held by local police for alleged IP breach.
This report first emerged on BlockBeats, a news source for the crypto industry in China. Yang was taken into custody at the end of October, when Jihan Wu, Bitmain’s co-founder unexpectedly took control of the company after unceremoniously ousting the other co-founder Micree Zhan.
Top miner manufacturers Bitmain and Canaan are facing stiff competition from MicroBT. MicroBt has been quite successful in capturing a major market share in bitcoin mining.
Yang previously worked with Bitmain as its processor design director. He was at the helm of the company when it launched its renowned AntMiner S7 and S9 variants in 2016. Moreover, Yang quit Bitmain after his discussion with Zhan and Wu for stock options failed. He accumulated $20 million from fundraising and started his own venture, MicroBT, that develops WhatsMiner’s array of mining equipment.
In 2017, however, Yang was sued by Bitmain for alleged patent infringement, which Bitmain held for bitcoin miner-related technology. Nevertheless in 2018, Yang, with the help of his legal team, successfully defended himself, got the patent revoked during the court hearing, and also got the case dismissed.
Founder and CEO of MicroBT held by local police for alleged IP breach. MicroBT did not respond to the questions posed regarding the latest case, whereas Bitmain refused to comment.
BlockBeats’ report also disclosed that they are not sure why the investigation is being conducted for an alleged breach of intellectual property.