Alibaba Group accused a Dubai based cryptocurrency agency named Alibabacoin foundation of trademark infringement. This accusation has been rebuffed by the Alibaba foundation. This allegation was brought in a U.S lawsuit last week.
A judge at the U.S. District Court in Manhattan imposed a temporary restraining order on Alibabacoin Foundation after Alibaba filed a complaint accusing it of making “prominent, repeated, and intentionally misleading” use of its trademarks.
Ali Baba is the name of the protagonist in the popular Middle Eastern folk tale “Ali Baba and the Forty Thieves” and Alibaba Group Holding is one of the world’s biggest e-commerce companies.