Core Foundation Alleges Maple Misappropriated Confidential Data: Court Acknowledges 'Significant Issue for Trial'

Core Foundation's Legal Action: Core Foundation has secured an injunction from the Cayman Islands Grand Court against Maple Finance for alleged breaches of commercial agreements, including misuse of confidential information and violation of a 24-month exclusivity clause related to the development of lstBTC.

Partnership Details: The partnership between Core Foundation and Maple Finance began in early 2025, focusing on a Bitcoin yield product, but Core alleges that Maple began using its confidential information to develop a competing product, syrupBTC, leading to the legal dispute.

Court's Findings: The court determined that damages would not suffice as a remedy due to the risk of Maple dealing in CORE tokens and the competitive advantage it could gain by launching syrupBTC, prompting the injunction.

Maple Finance's Response: Maple Finance has denied any wrongdoing, asserting that Core Foundation's actions are against lender interests and that it will pursue all available remedies to hold Core accountable for the situation.