X-Spot International Restricted, an organization owned by Huobi International alternate (now HTX) co-founder Leon Li, has gained an injunction in opposition to Huobi International for the latter to stop its use of the Chinese language-equivalent “Huobi” trademark in Hong Kong.
In line with a current determination with the Hong Kong Excessive Courtroom, the HTX alternate shall be barred from utilizing the trademark identify Huobi (火幣) and the Chinese language enterprise identify “火必,” which is “confusingly comparable” to the English trademark in Hong Kong, pending a closing trial on the matter. Presiding choose Mimmie Chan J wrote:
“At this stage, I’m unable to see any controversial defence to the Plaintiff’s declare of trademark infringement, and as Counsel for the Plaintiff submitted, there isn’t a want to contemplate the adequacy of damages or the steadiness of comfort for the grant of the Injunction sought.”
Courtroom paperwork reveal that the Huobi trademark was registered in 2019 in Hong Kong. In September 2022, Huobi International was offered by co-founders Leon Li and Du Jun to About Capital Administration, an entity linked to Chinese language blockchain character Justin Solar.
Nevertheless, in response to courtroom filings, the Huobi trademark was assigned, or rights absolutely transferred, to Leon’s X-Spot International Restricted, earlier than the September 2022 acquisition, which is “not disputed” by both occasion. In July 2023, X-Spot International sued Huobi International in Hong Kong for trademark infringement. On the time, Huobi International said that “it holds trademark rights in lots of authorized jurisdictions around the globe and is subsequently entitled to make use of them freely.”
Cointelegraph beforehand reported that in Might 2023, Justin Solar revealed a sequence of allegations in opposition to Wei Li, Leon Li’s brother. Within the tweet, Solar accused Wei Li of receiving thousands and thousands of Huobi Tokens by way of “irregular means” at zero value and of “persistently promoting off these HT tokens and cashing out.” To which Lin Li replied: “I hope Huobi can present proof. Whether it is confirmed that it’s zero-cost HT was obtained by way of unlawful means, I’ll personally pay 10 occasions the HT [amount] to Huobi firm.”
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