Trademark Turmoil: Trader Joe's vs. Trader Joe DEX
No attachments for this post
US grocery store Trader Joe’s is taking legal action against the decentralized exchange (DEX) named Trader Joe, citing trademark violations.
According to court documents, “The accused run a digital currency platform under the 'Trader Joe' name and have claimed the website traderjoexyz.com. They named their platform reminiscent of the well-known supermarket, Trader Joe’s. They further spun a story about a fictional 'Trader Joe' selling produce at local markets, mirroring Trader Joe’s actual business model."
Trader Joe DEX, which began on the Avalanche network, has grown in prominence, branching out to platforms like BNB Chain, Arbitrum, and Ethereum. Records indicate that it manages over $77 million in various digital tokens and saw over $25 million in transactions this past September.
A recent complaint submitted to the U.S. District Court for the Central District of California accuses the DEX of fraudulent misrepresentation of its background to gain a legal edge concerning its web domain. After unsuccessful private appeals to the DEX to cease trademark misuse, the supermarket approached the World Intellectual Property Organization (WIPO) in May 2022, advocating for the revocation of the domain traderjoexyz.com from the crypto company.
The court filing notes, "In their defense during the WIPO case, the Defendants fabricated a story. They misled about the true origins of the 'Trader Joe' title and inaccurately asserted it was named after the co-founder’s sibling."
The supermarket company now seeks compensation and has called for a jury trial.
Comments on this post
No comments have been added for this post.
You must be logged in to make a comment.