Challenged In UK High Court

Bitcoin Legal Defense Fund Disputes Craig Wright’s Claim to $2.89B in BTC

The Bitcoin Legal Defense Fund, a non-profit organization founded by Twitter founder Jack Dorsey, has challenged its alleged obligation to assist Craig Wright in reclaiming his purportedly stolen billions in Bitcoin.

In the United Kingdom High Court, the fund, made up of several Bitcoin developers, is arguing that Wright’s claim is fraudulent. It demands that his company must actually prove ownership over the Bitcoin he claims to have lost.

No Proof of Ownership

An Aug. 21 statement revealed the application submitted to the UK high court with a request for proof of ownership. If agreed, Tulip Trading – Craig Wright’s company – will have to prove that it actually ever owned the Bitcoins. 

However, the Bitcoin developers have doubts:

“Tulip Trading Ltd accepts that it must establish that it owns the Digital Assets in order to obtain the relief it seek. It cannot do so because it never owned the Digital Assets and has commenced this claim fraudulently.”

They argue that the “absence of documentary records that one would expect” suggests that he does not, in fact, own the alleged 111,000 Bitcoins. At the time of publication, this is the equivalent of approximately $2.89 billion.

The application also asserts that Wright claims he erased his hard drive soon after the alleged hack, supposedly to prevent any potential further harm:



“He claims that he did so as he “did not know how the hackers obtained access” and “to ensure all malware and other threats were removed,” the document states.

However, doubts linger among the developers because of Wright’s expertise in computer security.

The collective of developers also quoted several judges overseeing lawsuits previously brought by Wright, declaring that he “lied and cheated in his attempt to prove that he is Satoshi Nakamoto.”

Since 2016, Wright has been declaring that he is the creator of Bitcoin, the mysterious individual known as Satoshi Nakamoto.

He bases his legal actions on these claims. In January 2021, Wright threatened legal action against websites hosting Bitcoin’s whitepaper, claiming they had stolen his intellectual property.

In previous times, Wright has offered to provide evidence to support his claims of involvement in the early stage development of Bitcoin.


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.