Anuwave, of IP Edge, Sues Coinbase Crypto Exchange for Patent Infringement of Text Notifications
- Anuwave sues crypto exchange Coinbase for patent infringement
- Coinbase is one of the largest exchanges in the market
The cryptocurrency exchange Coinbase has been sued by a Texas-based IP-monetization firm called Anuwave, LLC, for alleged patent infringement. The lawsuit has been filed at the federal district court of Delaware on June 27, according to a recent report released by Decrypt.
Coinbase Sued By Anuwave
According to Decrypt, Anuwave claims that Coinbase has violated U.S. Patent No. 8,295,862, a method that enables communication through SMS communication channel. The complaint says that the Coinbase Text Notification that enables users of the popular crypto exchange to perform certain actions with SMS-enabled mobile devices violates Anuwave’s patent.
Anuwave is known as a non-practising entity (NPE) which is also called “patent troll,” as Decrypt explains. About it, the report released by Decrypt reads as follows:
“Its parent company, IP Edge, is designed to ‘help investors and companies alike establish licensing revenue streams from IP’ according to its website. In other words, all it does is sue – and it does it a lot.”
Anuwave has also filed more than 100 lawsuits over different alleged infringements on its intellectual property against a wide range of companies from different sectors, including banking and technology.
Some of the firms affected by these lawsuits include Avast, BitDefender, Webroot, and Symantec. Surprisingly, all of these companies have been sued due to violations of similar patents as the Coinbase case.
Coinbase is one of the largest and most recognized exchanges around the world. According to data provided by CoinMarketCap, Coinbase Pro is the 30th largest crypto exchange in the market with a trading volume of $826 million in the last 24 hours.
The platform is recognized for its security and reliability over time and it has never been hacked until now. During the last year, the exchange has added a large number of new trading pairs for individuals to have access to new markets.