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Self-proclaimed Bitcoin founder Craig Wright launches lawsuit against 16 Bitcoin developers
Crypto News

Self-proclaimed Bitcoin founder Craig Wright launches lawsuit against 16 Bitcoin developers

Saudu Clement
Saudu Clement

Craig Wright, the self-proclaimed Satoshi Nakamoto, is fighting tooth and nail to prove that he is indeed the founder of Bitcoin. In his latest squabble, the Australian computer scientist has launched a lawsuit against 16 Bitcoin developers. His mission is to retrieve $5.7 billion worth of Bitcoin.

According to a report by Reuters, Wright is seeking access to 111,000 Bitcoin from two wallets that he does not have the private keys for. He claims to have lost his private keys following a hacking incident of his home computer back in February last year. Although the incident is under investigation, Wright has gone ahead to file a claim with the London High Court against developers from Bitcoin Core (BTC), Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV), and Bitcoin Cash ABC (ABC).

Wright asserts that the developers have failed in their mandate to serve in the best interest of the legit owners of the Bitcoin. Paul Ferguson, a partner at the law firm representing Wright, said:

Our client [Craig Wright] has always maintained that he created bitcoin to operate within existing laws and that in the event of loss or theft, where legitimate ownership can be proven, the developers have a duty to ensure recovery.

While many would dismiss Wright’s claim of ownership of the missing Bitcoin, the outcome of the case could set an interesting blueprint for tackling crypto theft. But then, it is common knowledge that losing your private keys is akin to losing your funds, since nobody else should have access to this information but you.

Wright is doing all he can to assert his dominance as the creator of Bitcoin. Early this year, he went after sites that hosted the Bitcoin whitepaper, threatening to sue them if they failed to remove the whitepaper from their sites.

To many, the Australian computer scientist is nothing but an impostor who is riding on the fame of Bitcoin. Other individuals have also come out to claim the identity of Satoshi Nakamoto. However, none has been as persistent and vocal as Wright.