Copy link
Increase text size
Decrease text size
Link copied

Craig Wright says $10B bitcoin fortune is inaccessible

Image Credit: www.youtube.com

Mon, 01 Jul 2019, 07:22 am UTC

Craig Wright, who claims to be the creator of Bitcoin, said he is unable to comply with a federal court order that required him to provide a list of all his early Bitcoin addresses, according to Bloomberg.

In addition, Wright said in a court hearing in West Palm Beach, Florida, that he may not be able to access the coins he acquired prior to December 31, 2013, at all.

The Australian scientist is in court to defend himself against the complaint filed by the estate of his former business partner Dave Kleiman.

The plaintiff Ira Kleiman claimed that Wright stole hundreds of thousands of BTC worth more than $5 million. Wright allegedly “forged a series of contracts that purported to transfer Dave’s assets to Craig and/or companies controlled by him. Craig backdated these contracts and forged Dave’s signature on them.”

Dave and Wright allegedly mined 1.1 million bitcoin together between 2009 and 2011, and Ira is suing for half of the collective stockpile.

On the stand, Wright said that Satoshi Nakamoto was a character he portrayed when authoring and disseminating Bitcoin Whitepaper. However, he is not familiar with what Bitcoin has developed into and failed to recognize the idea of a public address.

Dave, on the other hand, was a cybersecurity expert who was tasked to cover up Wright’s public tracks when he decided to stop working on Bitcoin in 2010, after the monetary creation was used for illegal activities on Silk Road and elsewhere.

I brought in Dave because he was a friend and he knew who I was and he was a forensic expert, and I wanted to wipe everything I had to do with Bitcoin from the public record,” he said.

Wright further said that he gave Dave a key piece of information before he died in 2013, making it difficult to trace the digital wallets holding the bitcoins and funds they hold.

Based on the current price, the creator likely owns an estimated $10 billion Bitcoin. And with Wright currently supporting his offshoot Bitcoin SV, which is valued at about $3.9 billion, a stained reputation at trial is something he cannot afford.

The Copyright Office has recently granted Wright copyrights for the original Bitcoin white paper and bitcoin source code. Although he was recognized under the penname Satoshi Nakamoto, the office made clear that it only receives applications for registrations and it does not investigate the truth of the statement made.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,245.81 (-0.37%)
  • Ethereum (ETH) $240.14 (-0.75%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $230.20 (-1.94%)
  • Cardano (ADA) $0.133200 (+0.43%)
  • Bitcoin (BTC) $9,245.81 (-0.37%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft