Core Foundation Secures Court Order Against Maple Finance Over Suspected Privacy Violation
Core Foundation Secures Court Order Against Maple Finance Over Alleged Data Leak
The Grand Court of the Cayman Islands sanctioned the order prohibiting Maple Finance from finalizing its own liquid staking token syrupBTC.
By Jamie Crawley|Edited by Sheldon Reback Nov 20, 2025, 3:47 p.m.
What to know:
- Core Foundation prevailed in acquiring a court order against Maple Finance concerning asserted breaches of privacy pertaining to their collaboration on launching the lstBTC token.
- The Grand Court within the Cayman Islands authorized the legal restriction against Maple Finance in finishing its own liquid-staking token or from transacting in CORE tokens while awaiting official arbitration.
- The foundation contended that Maple violated exclusivity commitments and unlawfully adopted Core's proprietary rights and private data to fashion their own offering while accumulating $150 million in customer holdings via their lstBTC collaboration.
- Maple refuted the allegations of misconduct.
Core Foundation, the originator of the yield-bearing lstBTC token, obtained a court order against Maple Finance concerning claimed violations of confidentiality tied to their alliance in introducing the token to the market.
The Grand Court in the Cayman Islands approved the court order against Maple Finance in finalizing its personal liquid-staking token, syrupBTC, or from undertaking CORE token transactions during pending arbitration processes, Core Foundation communicated on Wednesday.
Judge Jalil Asif stated that there is proof endorsing Core's assertions that Maple was notified that their undertakings "would culminate in considerable monetary repercussions," for Core, according to a court transcript registered on Oct. 30.
Core Foundation and Maple joined forces earlier this year to cultivate the token, which empowers owners to generate returns on their bitcoin holdings while their BTC is protected by custodians such as BitGo, Copper and Hex Trust.
The foundation proclaimed Maple violated its exclusive duties and improperly seized Core's copyright and classified details to fashion their separate product while accumulating $150 million in customer capital through the lstBTC alliance.
Core additionally reproached Maple for instigating jeopardy for lenders by reporting "devaluations in the worth of millions of dollars" of BTC deposits.
"It remains uncertain why Maple asserts that they are presently unable to restore the bitcoin to their creditors, or whether they reserve the privilege to devalue them," Core conveyed in the announcement.
Maple portrayed Core's operations as "directly conflicting with creditor welfare," in a post on X.
"Maple refutes all charges of impropriety on its behalf and shall be pursuing all avenues of legal recourse forcefully to guarantee Core Foundation is deemed accountable for the effects of their actions," the Melbourne, Australia-based credit marketplace affirmed.
