Ethereum Co-Founder Vitalik Buterin Named in BANKEX Lawsuit Against Matter Labs Over Alleged IP Theft

Matter Labs, the developer behind the layer-2 blockchain ZKSync, is facing a lawsuit from BANKEX over allegations of intellectual property theft. The complaint claims that former BANKEX employees Alexandr Vlasov and Petr Korolev stole proprietary technology to establish Matter Labs, which has since secured over $450 million in funding. Notably, the lawsuit also implicates Ethereum co-founder Vitalik Buterin, who allegedly approached BANKEX to collaborate on software for Plasma technology. This legal battle could have significant implications for the Ethereum ecosystem and the broader layer-2 scaling landscape.

Matter Labs Sued by BANKEX for Alleged Intellectual Property Theft

Matter Labs, the developer of layer-2 blockchain ZKSync, has been sued by BANKEX for alleged intellectual property theft. BANKEX alleges that former employees Alexandr Vlasov and Petr Korolev stole the company’s technology to start Matter Labs, which has received over $450 million in funding. The complaint also mentions Ethereum co-founder Vitalik Buterin’s involvement in approaching BANKEX to build software for Plasma technology.

Ethereum Price Surges: Key Reasons Behind the Rise

Ethereum, the second-largest cryptocurrency, has seen a significant price increase, rising above $1,800. One major reason for this surge is the decrease in short bets on the cryptocurrency. Short positions on the CME have dropped to under $500 million, the lowest in 2025. This decrease in shorting activity has led to fewer sellers in the market, contributing to the price increase.

Scroll’s Euclid Upgrade Pushes It Into ‘Stage 1’ Decentralization Era

Scroll, the Ethereum layer-2 network, has launched its Euclid upgrade, the most significant protocol transformation to date. The upgrade transitions Scroll from a ’stage 0’ to a ’stage 1’ rollup, retiring some centrally-controlled safety features for more decentralization. Euclid includes features to improve network performance and boost compatibility for certain applications.

Ethereum (ETH) Price Rally Expectations After Rising Above $1800

The crypto markets are recovering from trade war losses. Bitcoin surged above $93,000, while Ethereum’s price jumped over 10% in the past 24 hours, securing support at $1800. ETH whales intensified their activity, with one buying nearly 20,000 ETH worth $34.7 million. Another whale withdrew over 12,000 ETH from Binance, but selling pressure hasn’t mounted, hinting at continued price upswing for the rest of the week.