You have to give him that: Craig Wright has a knack for bizarre court cases. The entrepreneur, who describes himself as Satoshi Nakamoto, allegedly owned 111,000 Bitcoin – and lost it again through a hack. He then sued Bitcoin developers, who now want to have the proceedings temporarily suspended due to a lack of evidence. As if that weren’t odd enough, Craig Wright is laying claim to a wallet linked to the hacking of cryptocurrency exchange Mt.Gox. If he wants to stand the charge, he would have to explain how he got the 80,000 Bitcoin.
Doubts about bitcoin hack
In 2022, 111,000 Bitcoin are said to have been stolen from Wright’s private computer. A year later, Tulip Trading, a Seychelles-based holding company founded by Craig Wright, filed a lawsuit against 12 Bitcoin developers. It alleges that they breached fiduciary duties by not programming a way to recover stolen coins.
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The lawyers for the Bitcoin developers now claimed that the lawsuit arose with “fraudulent intent”. Wright refers to “false documents”. They also paint the picture of a notorious liar. The 53-year-old has ‘a long history of fraud, forgery and dishonesty’ says the complaint. There is neither evidence of a hack nor that Tulip Trading was in possession of the Bitcoin.
Lawsuit ‘doomed to fail’
The assets are said to have been located on two wallet addresses. So far there is no evidence that they belong to Tulip Trading or Wright. In addition, one of the addresses contained millions of dollars in bitcoin linked to the Mt.Gox exchange hack.
“It is widely accepted in the crypto community that the bitcoin in the 1Feex address came from a well-publicized hack of a Japanese crypto exchange,” the other side said. “Essentially, it seems that when Dr. Wright is the owner of the Bitcoin in the 1Feex address (which is disputed), he has effectively admitted to being the person who stole 80,000 BTC from Mt.Gox.” Tulip Trading’s lawsuit was therefore “doomed to fail”.
“Faketoshi” Craig Wright
For years, Craig Wright has claimed to be the inventor of Bitcoin – he was never able to prove it. In 2018 he forked the “Satoshi Vision” network from Bitcoin. And has been showering the crypto space with lawsuits ever since. For example Coinbase and Kraken, which he accuses of violating copyrights. He himself is accompanied by accusations of plagiarism.
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