On the 3rd, Beijing time, media said that Alibaba Group filed a lawsuit in a U.S. court on Monday, accusing a Dubai company of using a cryptocurrency called "Alibaba Coin" to raise more than $3.5 million, suspected of infringement. its trademark rights.

In the indictment filed in Manhattan Federal District Court, Alibaba said the Dubai-based Alibabacoin Foundation used its trademarks "prominently, repeatedly and intentionally misleadingly." The aim is to mislead consumers into thinking that “Alibaba Coin” is related to or supported by the Chinese e-commerce giant.

The lawsuit seeks a desist from further infringement and compensatory, punitive and treble damages for violations of U.S. federal law and New York local law.

Hours after Alibaba filed the lawsuit, U.S. District Court Judge Kimba Wood issued a temporary restraining order requiring the "Alibaba Coin Foundation" to Explain why it should not be prohibited from further engaging in the alleged infringement.

Alibaba also stated in the indictment that despite its repeated statements that it "has no intention to enter the field of cryptocurrency," information about its role in the issuance of "Alibaba Coin" has spread through the media and caused confusion. The Alibaba Coin Foundation "has taken no steps to eliminate or correct this confusion."