NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Wallet Company Xapo Gets a Breach of Contract Lawsuit

newsbtc
newsbtc
4 years ago
2 mins read
Bitcoin Wallet Company Xapo Gets a Breach of Contract Lawsuit

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin wallet company Xapo lost their bid to dismiss a breach of contract lawsuit slapped on five of its employees. This lawsuit was filed by LifeLock, which is seeking damages from defendants including Xapo CEO Wences Casares and COO Federico Murrone.

According to LifeLock, the defendants did not disclose the “nature and extent” of their role in developing the project, which it argues was created on its computers and using its resources.

Bitcoin Wallet Lawsuit

Back when LifeLock purchased Lemon, a digital wallet platform, it secured the services of Xapo employees. According to Xapo, LifeLock has relinquished its claim to any technology developed and has been aware of the development of IP related to the creation of the bitcoin wallet.

Judge Peter Kirwan overruled the Xapo team’s bid to drop the lawsuit due to insufficient facts. The judge referred toan agreement allegedly signed between the companies waiving claims to any bitcoin-related technology created.

“The letter thus does not clearly release defendant Casares from any or all of the breaches alleged here, and the demurrer does not lie to only part of a cause of action. Even if it were assumed for purposes of argument that it did, that would not absolve Casares of all potential liability. Among the fraudulent acts alleged in the third cause of action is that defendant Casares misrepresented his ‘personal bitcoin storage business’ in order to obtain a letter he could later claim was a release from liability related to his disclosure of confidential information,” Kirwan wrote.

The defendants in the case will next be required to attend a hearing on July 24. If the ruling is in favor of LifeLock, Xapo might be forced to relinquish its rights on the bitcoin wallet product and turn over its recently raised $40 million in venture capital funding. The company has also recently added US Treasury Secretary Larry Summers and ex-Citi CEO John Reed to its board.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Letni zastój na rynku Bitcoina? Niektóre wolumeny najniższe od lat

Dane on-chain pokazują, że wolumeny handlu Bitcoinem na rynku spot i rynku futures spadły do nowych minimów, mimo że cena...

newsbtc 4 hours ago

Theta Network Welcomes Prestigious Hongik University as the 21st Academia Customer of EdgeCloud Hybrid

Theta Labs, the leader in decentralized cloud infrastructure for AI, media, and entertainment, today announced that the High-Performance Data Processing...

News BTC 5 hours ago
Ethereum

Ethereum Sees $6 Billion In Tokenized Funds As Big Players Jump In

Ethereum’s smart-contract platform has crossed a major line. According to data shared by Token Terminal on X, the total value...

Christian Encila 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Snaky Way Presale Live: AI Meme Coin $AKE Gears Up for Bull Run

Snaky Way Presale Live: AI Meme Coin $AKE Gears Up for Bull Run

Aaron Walker 2 hours ago
Solana

Solana’s Pump.Fun Loses Steam With Exit Scam Rumors, LetsBonk.Fun Claims 54% Of Total Market Share

Scott Matherson 3 hours ago

Ethereum raggiunge i 6 miliardi di dollari in fondi tokenizzati mentre i grandi investitori entrano in gioco.

clararosati 4 hours ago

Premium Sponsors

Press Releases

  • Felpörgő alternatív kriptovaluta a Dogecoin (DOGE) helyett – 650 dollárból 65 000 dollár lehet 4 hónap alatt

    Felpörgő alternatív kriptovaluta a Dogecoin (DOGE)...

    13 minutes ago
  • 3 figyelemre méltó altcoin 2025. júliusának első hetében

    3 figyelemre méltó altcoin 2025. júliusának első...

    1 hour ago
  • Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD udělá 65 000 USD za 4 měsíce

    Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD...

    3 hours ago
  • 3 altcoiny, které sledovat v prvním týdnu července 2025

    3 altcoiny, které sledovat v prvním týdnu července 2025

    4 hours ago
  • Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE), który zamieni 650 USD na 65 000 USD w ciągu 4 miesięcy

    Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE)...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.