• Metascholar News Portal
• Innovation
• December 20, 2024
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• 3 minutes Read

Man convicted for repeatedly lying about inventing Bitcoin

A computer scientist, Craig Wright, has been found guilty of contempt of court for repeatedly and falsely claiming to be Satoshi Nakamoto, the mysterious inventor of Bitcoin. Despite a High Court ruling in March declaring that Wright was not Satoshi and ordering him to cease such claims, he continued to launch legal battles asserting intellectual property rights to Bitcoin, including a $1.2 trillion (£911 billion) claim. Justice Mellor of the High Court described Wright’s actions as a “flagrant breach” of the earlier ruling. As a result, Wright has been sentenced to 12 months in prison, suspended for two years. This means any further claims of being Bitcoin’s creator could lead to his imprisonment. Wright, an Australian residing in the UK, appeared at the hearing via videolink but refused to disclose his exact location, stating only that he was in Asia. This complicates enforcement, as UK authorities would need to issue an international arrest warrant should they wish to detain him. A Pattern of “Legal Terrorism” Wright’s legal campaigns to establish himself as Bitcoin’s creator have been described in court as “legal terrorism,” causing significant personal and financial distress to his targets. Justice Mellor dismissed Wright’s arguments as “legal nonsense” and noted his apparent awareness of jurisdictions without UK extradition agreements. Since 2016, Wright has claimed to be Satoshi Nakamoto, the pseudonymous figure credited with inventing Bitcoin, the world’s first and largest cryptocurrency. If true, the real Satoshi would control a fortune estimated at $100 billion (£80 billion) in Bitcoin. Failure to Prove His Claim Despite Wright’s assertions, he has failed to provide definitive evidence to substantiate his claim, leading the cryptocurrency community to largely dismiss him. Instead, Wright pursued costly lawsuits against individuals and companies disputing his position. This legal onslaught prompted the Crypto Open Patent Alliance (COPA), a coalition of industry players, to take Wright to court. In a landmark ruling earlier this year, the High Court sided with COPA, stating that Wright had “lied extensively” in his bid to be recognized as Satoshi. Fallout from Wright’s Claims During the trial, COPA lawyer Jonathan Hough criticized Wright’s behavior, describing elements of it as bordering on “farce” while acknowledging its serious implications for the cryptocurrency industry. Hough argued that Wright’s actions had created a “chilling effect” on the sector, deterring innovation and openness. “Wright joins a long list of individuals who have claimed or been suggested as the true identity of Satoshi Nakamoto. However, all such claims have either…