YEREVAN (CoinChapter.com) — Craig Wright finds himself on the back foot in his never-ending attempt to claim the legacy of Satoshi Nakamoto, the enigmatic creator of Bitcoin (BTC). In a fresh setback, a UK judge has asked him to pay a $1 million deposit by Jan 5, 2024. The funds will be used to pay Bitcoin Core developers should he lose the case.
Craig Wright’s legal saga
In 2016, the Australian computer scientist made headlines by declaring he was Satoshi Nakamoto. While it gained him some fans, many in the crypto industry doubted this claim. Taking his claims one step further, he emphasized he has sole rights to the Bitcoin white paper.
Undeterred and determined to prove he is the BTC founder, Wright sued 13 Bitcoin Core developers and multiple companies, including industry giants like Coinbase, Blockstream, and Block in the suit, he claimed the plaintiffs infringed his copyright of the Bitcoin white paper the Bitcoin file format, and the blockchain’s database.
In response to the lawsuit, a non-profit legal team operating as the Cryptocurrency Open Patent Alliance (COPA) represented the group of companies involved.
With things not going in his favor, Wright requested additional time to present supporting evidence that he was Nakamoto. He asserted that he had files to prove his claims, which he had not yet presented.
However, the Bitcoin developers did not like this idea. They argued that Wright had manufactured evidence, tampered with metadata, and intended to drag out the legal process intentionally. Additionally, they pointed out that if he had any evidence, they would have already been presented in the case.
Wright’s argument that he withheld these files due to poor legal advice didn’t find takers either. The developers pointed out that Wright only mentions new documents because they had filed 50 pieces of evidence demonstrating Wright had allegedly committed fraud in his previous submissions.
Satoshi Nakamoto claims an expensive affair with Craig Wright
Justice Edward James Mellor put conditions on his order to ensure that Wright was not wasting the court’s time and taking advantage of the law.
He ordered an additional 800,000 pounds (about $1 million) be paid to Wright by Jan 5. This amount will ensure that the legal costs of the developers are covered should Wright lose the trial. However, this is not the first time he has shelled out money. Earlier, he had already paid the court 100,000 pounds (approximately $127,000).
“In the circumstances I propose that the Developers should have total security for their participation in the Joint Trial in the sum of £900,000. They already have £100,000 of that total, so I order the provision of further security for the costs of the Developers in the sum of £800,000,”
the judge ruled.
Wright, who had earlier disclosed he has ASD, had submitted a report outlining necessary accommodations for the trial, including receiving all cross-examination questions in advance.
To make matters worse, the judge ordered Wright to pay 65,000 pounds ($82,000) to cover COPA’s costs for expert evidence relating to his autism spectrum disorder (ASD).
The development is a huge setback for Craig Wright. Skepticism surrounding his claim has led to debates. One crypto influencer even offered Canadian billionaire Calvin Ayre $100 million if he could prove Wright is Satoshi. Ayre is a huge Craig fan, one of his most outspoken supporters.
Will Wright win this case and be the biggest name in crypto? Or will he lose the money he wagered in this quest? Perhaps we will find out, hopefully soon.
Previously, in December 2021, Wright won a significant court case in the United States against the estate of Dave Kleiman. As a result, he got the exclusive right to keep $50 billion in Bitcoin.
