 "Wright’s campaign to be recognised as Bitcoin’s inventor involved launching costly lawsuits against critics. His actions prompted the Crypto Open Patent Alliance (COPA), a coalition of cryptocurrency industry players, to initiate a High Court trial aimed at curbing his legal pursuits. Image Credit: Reuters")
A UK-based computer scientist, Craig Wright, has been convicted of contempt of court for persistently claiming to be Satoshi Nakamoto, the enigmatic creator of Bitcoin. Despite a High Court ruling in March that declared he was not Satoshi and ordered him to stop making such claims, Wright continued to pursue legal actions asserting intellectual property rights over Bitcoin, including a staggering claim for $1.2 trillion (£911 billion).
In response, the court sentenced him to a 12-month prison term, suspended for two years, meaning he faces imprisonment if he repeats his claims. Wright, originally from Australia but living in the UK, attended the proceedings via videolink from an undisclosed location in Asia. His refusal to reveal his whereabouts complicates enforcement, with an international arrest warrant required if UK authorities choose to act.
A campaign of ‘Legal Terrorism'
Wright’s actions were described in court as “legal terrorism,” causing significant distress to individuals and organisations. The judge, Mr Justice Mellor, labelled his arguments “legal nonsense” and noted that Wright appeared to be leveraging the UK’s lack of extradition treaties with certain countries to avoid repercussions.
Since 2016, Wright has claimed to be the man behind Bitcoin, a claim that, if true, would make him one of the richest individuals in the world, with Bitcoin holdings estimated at $100 billion (£80 billion). However, he failed to provide credible evidence, and the cryptocurrency community largely dismissed his assertions.
Legal efforts to stop false claims
Wright’s campaign to be recognised as Bitcoin’s inventor involved launching costly lawsuits against critics. His actions prompted the Crypto Open Patent Alliance (COPA), a coalition of cryptocurrency industry players, to initiate a High Court trial aimed at curbing his legal pursuits.
The court sided with COPA, ruling that Wright had “lied extensively” to support his claims. COPA’s lawyer, Jonathan Hough, described Wright’s behaviour as at times “farce,” but with “deadly serious” consequences, as it created a chilling effect on the industry by intimidating those who challenged him.
The mystery of Satoshi Nakamoto endures
Wright is one of many individuals who have claimed or been suggested as Satoshi Nakamoto. However, none have substantiated their claims, leaving the true identity of Bitcoin’s creator an enduring mystery.
Wright’s conviction serves as a warning against fraudulent claims, reinforcing the need for accountability in the rapidly evolving world of cryptocurrency.