China-based NFT Marketplace Found Guilty of Issuing Stolen Token

A court in Hangzhou, Zhejiang Province, China, has granted a copyright infringement claim against BigVerse, the company behind the NFTCN platform NFTCN, SCMP reports.

The plaintiff, Qice, claimed one of the platform’s users stole the work of artist Ma Qianli. An unknown person minted the NFT and sold it for 899 yuan.

The NFTCN platform was found guilty of “facilitating the infringement of intellectual property rights.” According to the court, the company did not check whether the user was really the author of the work.

BigVerse must pay 4,000 yuan ($610) in compensation to Qice and stop the distribution of NFTs. According to the publication, we are talking about burning the token.

staff
yourcryptostop.com