Ex-Employee Steals IP, Starts Blockchain Empire đŸš€đŸ’»

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In a galaxy not so far away, a high-frequency trading firm named Jump—known for its love of blockchain and its hatred of ex-employees with sticky fingers—has found itself embroiled in a cosmic legal battle. The firm claims that Liam Heeger, a former software developer, has allegedly pilfered their intellectual property (IP) like a space pirate hoarding treasure, using it to launch a competing blockchain venture. Because, apparently, the blockchain universe wasn’t crowded enough already.

The complaint, filed in a Chicago federal court on January 21, accuses Heeger of breaching his contract by allegedly stealing Jump’s IP while working on Firedancer, a “major blockchain project” that sounds like it was named after a rejected dance move. Heeger, who resigned on November 11, 2024, was allegedly one of the lead engineers on the project, which involved analyzing, designing, writing, and optimizing blockchain code. Or, as Jump calls it, “the stuff that makes us money.”

Meanwhile, on January 22, Heeger took to X (formerly known as Twitter, for those who still care) to announce his new venture, Unto Labs. According to Heeger, Unto Labs is working on a “next-generation layer-1 blockchain,” which is tech-speak for “something that will probably confuse everyone but make a few people very rich.”

Jump, however, isn’t buying it. The firm claims Heeger started working on Unto Labs while still employed at Jump, allegedly using “highly sensitive confidential and proprietary information” to get a head start. This includes business plans, blockchain models, unreleased codebases, and software tools—basically, the kind of stuff that makes lawyers salivate and CEOs lose sleep.

Jump further stated that its ability to “run its business profitably in the blockchain space” depends on keeping its IP under lock and key. Which, apparently, Heeger forgot to read in the employee handbook. The firm also accused Heeger of raising $3 million in funding at a $50 million valuation within a month of his resignation, all while allegedly schmoozing with venture capitalists at the Breakpoint conference in Singapore. Because nothing says “I’m loyal to my employer” like fundraising on company time.

To add insult to injury, Jump claims Heeger told a former colleague that he wouldn’t comply with his non-competition agreement because he had moved to California, where the laws are apparently more forgiving. Because, of course, California is the land of sunshine, avocados, and legal loopholes.

Jump has asked the court to enforce the non-competition agreement for two years and to prevent anyone from working with Heeger on his new venture. They’ve also requested that Heeger return any IP he may still have, though Heeger and Unto Labs have yet to respond. Probably because they’re too busy counting their $3 million.

In the meantime, the blockchain world watches with bated breath, popcorn in hand, as this cosmic drama unfolds. Because when it comes to IP theft, corporate espionage, and blockchain, one thing is certain: the future is weird, and lawyers are making bank. 🍿

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2025-01-24 13:56