Pink Taxi ICO settles intellectual property dispute

Pink Taxi ICO settles intellectual property dispute

A group called Pink Taxi has apologized to A2B Taxi Company a week after things got heated between the two parties. The apology made last Friday, addressed the public, A2B Taxi Company and members of the A2B community.

Controversy arose after Pink Taxi marketed its ICO using materials that were identical to that of A2B Taxi, CCN reported. John McAfee publicly promoted the ICO by Pink Taxi on Twitter. According to reports, the ICO was created to provide a safe environment for women who face sexual assaults from drivers and other individuals when traveling. Pink Taxi currently offers its services in over 50 cities. The company hires women drivers who are trained to provide safe travels for women all around the world. To promote Pink Taxi, John McAfee claims to have charged $500,000 for a tweet and $100, 000 for a reply.

Forty minutes after McAfee’s tweet, A2B Taxi addressed their investors and supporters exposing Pink Taxi’s actions. According to the taxi platform, Pink Taxi stole its intellectual property by copying its website design, white paper and even their YouTube promotion video, which was posted in February. In Pink Taxi’s video, uploaded on May 14, featured Vytautas Kaseta, an executive with A2B Taxi naming him as unnamed blockchain expert. The video was later taken down. A2B Taxi first uploaded the video earlier this year in February.

Efforts made by A2B Taxi executive, Tomas Stasiulevicius, to understand why McAfee would support a company without doing proper research met an unapologetic McAfee. McAfee claimed A2B Taxi was a fraud and advised they stop the accusations against Pink Taxi. He further remarked that the company would have his ‘full attention’ if they continued with the tweets—only to eat the humble pie several hours later.

In the apology posted by John McAfee on Twitter, Pink Taxi said the third party it hired to help them market its ICO had copied content from A2B Taxi, assuring the blockchain-based taxi platform that proper measures were being taken against the third party.

The number of ICO fraud rises by the day costing many investors millions in investments. Last month,$50 million was lost after Yassir Hankir, the CEO of German startup Savedroid, disappeared with the money made from a coin offering. This and many more cases continue to create fear in the cryptocurrency space.

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