Core accuses Maple of using collaborative information to push competing products, the court issued an injunction to stop syrupBTC.

2025-11-25 01:29:21

Abstract generation in progress

According to ChainCatcher news, The Defiant reported that the Cayman Islands court issued an injunction this week to prevent Maple Finance from launching the yield-bearing Bitcoin product syrupBTC, highlighting the gap between DeFi products and traditional legal frameworks. Core Foundation accused Maple of violating an exclusivity agreement by leveraging information obtained during the collaboration to develop IstBTC to create a competing product syrupBTC. Maple manages over $3 billion in assets, denying any wrongdoing, stating that syrupBTC was independently developed, and will return 85% of the principal to BTC Yield lenders, with the remaining 15% to be released after legal proceedings are resolved. Experts point out that this case shows that even decentralized blockchain products still need to comply with real contracts and laws. Block Street CEO Hedy Wang stated: off-chain contracts are still important, and DeFi is not a lawless land. Axelar legal advisor Jason Rozovsky emphasized that assets should be stored in a bankruptcy-isolated manner to protect user rights.

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