Smartphone Maker Xiaomi Denies Link to BMxXMI Token Sale

Published on 04 July 2018 by Cryptovest Staff

Blackmoon’s BMxXMI Token Offering

While revealing that tokens had already been sold in France, Germany, and the UK, Vasin refused to disclose the quantity of BMxXMI sold, as well details of the brokers who reportedly will act on investors' behalf.

Xiaomi Disavows Token Sale

Responding to a request for comment on the BMxXMI token sale, Xiaomi told the South China Morning Post that it has no knowledge of the ICO scheme and did not approve or endorse Blackmoon’s project.

Blackmoon is not the first token project that has piggybacked on the name or brand of a well-known company.Earlier this year, Dubai-based Alibabacoin Foundation issued a digital currency of the same name and distributed it via an ICO, raising over $3.5 million. Alibaba Group filed a lawsuit against the company for confusing the public with the “prominent, repeated, and intentionally misleading” use of its trademark. However, a judge in a US court ruled against the lawsuit and accompanying restraining order.