According to Mars Finance, on November 20, the Core Foundation announced that it had obtained an injunction from the Grand Court of the Cayman Islands. The court found that Maple Finance was suspected of violating confidentiality obligations and exclusive cooperation terms during the cooperation to develop lstBTC, stating that there are “serious issues that need to be examined.” The Core Foundation stated that since the cooperation began in early 2025, they have invested a significant amount of resources in technology development, market promotion, and product subsidies, while Maple Finance has since been accused of using related confidential information to develop competing products, violating the 24-month exclusive cooperation agreement between the two parties. Regarding Maple Finance's announcement that it needs to impair the assets in the Bitcoin Yield product, the Core Foundation pointed out that it is still unclear why Maple Finance is unable to return the Bitcoin to the lenders, emphasizing that its actions reflect significant doubts about Maple Finance's business operations.
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