Self-proclaimed bitcoin inventor is not ‘Satoshi Nakamoto,’ UK judge rules | CNN Business (2024)

Self-proclaimed bitcoin inventor is not ‘SatoshiNakamoto,’ UK judge rules | CNN Business (1)

A UK judge ruled that Craig Wright is not the inventor of bitcoin.

London — An Australian computer scientist who claims he invented bitcoin is not “SatoshiNakamoto,” the pseudonymous inventor of the cryptocurrency, a judge at London’s High Court ruled on Thursday.

Craig Wright has long claimed to have been the author of a 2008 white paper, the foundational text of bitcoin, published under the pseudonym.

The Crypto Open Patent Alliance (COPA)took Wright to courtto stop him suing bitcoin developers, asking for a ruling that Wright was notSatoshi.

Judge James Mellor said at the end of closing arguments on Thursday that the evidence Wright was notSatoshiwas “overwhelming.”

“Dr Wright is not the author of the Bitcoin white paper,” Mellor said. “Dr Wright is not the person who adopted or operated under the pseudonymSatoshiNakamoto in the period 2008 to 2011.”

COPA, whose members include Twitter founder Jack Dorsey’s payments firm Block(SQ), said the ruling was “a win for developers, for the entire open source community and for the truth.”

“For over eight years, Dr Wright and his financial backers have lied about his identity asSatoshiNakamoto and used that lie to bully and intimidate developers in the bitcoin community,” a COPA spokesperson said in a statement.

“That ends today with the court’s ruling that Craig Wright is notSatoshiNakamoto.”

A spokesperson for Wright said he was “not prepared to speak to anyone at this time.”

Alleged perjury

COPA had accused Wright of repeatedly forging documents to substantiate his claim, including during the trial itself, which Wright denied whenhe gave evidence.

Its lawyer, Jonathan Hough, said at the start of the trial in February that Wright’s claim was “a brazen lie, an elaborate false narrative supported by forgery on an industrial scale.”

Hough said that “there are elements of Dr Wright’s conduct that stray into farce,” citing his alleged use of ChatGPT to produce forgeries.

But he added: “Dr Wright’s conduct is also deadly serious. On the basis of his dishonest claim to beSatoshi, he has pursued claims he puts at hundreds of billions of dollars, including against numerous private individuals.”

Wright’s lawyers, however, argued in court filings that he had produced “clear evidence demonstrating his authorship of the white paper and creation of bitcoin.”

In their closing arguments, COPA’s lawyers asked Mellor to refer the case to Britain’s Crown Prosecution Service “for consideration of prosecution for the offenses of perjury and perverting the course of justice.”

Mellor did not indicate whether or not he would do so.

Self-proclaimed bitcoin inventor is not ‘Satoshi Nakamoto,’ UK judge rules | CNN Business (2024)

FAQs

Who is the self proclaimed Bitcoin creator? ›

Craig Wright had long claimed to have been the author of a 2008 white paper, the foundational text of bitcoin, published under the pseudonym "Satoshi Nakamoto".

Who is the judge for Bitcoin in the UK? ›

The case concluded on March 14th after a six-week investigation, with London High Court Judge James Mellor ruling that Wright didn't create Bitcoin and is not Satoshi.

Is Wright not the inventor of Bitcoin? ›

In March 2024, and following a six-week trial, Mr Justice Mellor ruled that Dr Craig Wright is not Bitcoin creator Satoshi Nakamoto and stated that the evidence presented during the trial was overwhelming.

Who claimed to be Satoshi? ›

This Man Did Not Invent Bitcoin. For years, Craig Steven Wright, an Australian cryptocurrency enthusiast, claimed to be Satoshi Nakamoto, the mysterious creator of Bitcoin. Then the courts got involved.

Who is really behind the creation of Bitcoin? ›

Bitcoin was created by an anonymous person or group using the pseudonym Satoshi Nakamoto. Nakamoto published a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," outlining the concept of a decentralized digital currency. 1 The true identity of Satoshi Nakamoto remains unknown to this day.

Who is the real starter of Bitcoin? ›

Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the Bitcoin white paper, and created and deployed Bitcoin's original reference implementation.

Who is really controlling the Bitcoin market? ›

Bitcoin is not controlled by any single group or person. Instead, it is governed by multiple stakeholders — including developers, miners, and users. Developers write the code that makes Bitcoin run; miners validate transactions; and users put the software to work by trading, transacting, holding, and more.

Who owns the most Bitcoin? ›

Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.

Who controls Bitcoin now? ›

As a decentralized system, bitcoin operates without a central authority or single administrator, so that anyone can create a new bitcoin address and transact without needing any approval. This is accomplished through a specialized distributed ledger called a blockchain that records bitcoin transactions.

Why is Craig Wright not Satoshi? ›

The ruling brings to a close a six-week trial, in which the Crypto Open Patent Alliance, a nonprofit consortium of crypto companies, asked the court to declare that Wright is not Satoshi on the basis that he had allegedly fabricated his evidence and contorted his story repeatedly as new inconsistencies came to light.

How much bitcoin does Satoshi have? ›

How Much Bitcoin Does Satoshi Own? Satoshi Nakamoto is rumored to own 1.1 million bitcoin in several accounts, but no one is 100% sure these account belong to Bitcoin's creator.

Who created bitcoin What problem did it solve? ›

By finding a solution to the double-spend problem, Satoshi Nakamoto built an alternative decentralised payment system.

How much is a Bitcoin owner worth? ›

But there are some compelling theories for who Satoshi really is — and who might control the 1.1 million bitcoin in known Satoshi wallets. If Satoshi is alive and in control of his keys, then he has access to holdings worth around $70 billion at today's prices.

How much Bitcoin does Russia have? ›

How much Bitcoin do Russia and China hold? - Quora. Russian citizens reportedly own 16.5 trillion rubles ($214 billion) worth of cryptocurrencies, according to government estimates. Records show that China holds 194,000 BTC, 833,000 ETH, and a variety of other unnamed cryptocurrencies.

Is Nick Szabo the creator of Bitcoin? ›

Nick Szabo is a cryptographer and computer scientist well known for creating Bit Gold, considered a predecessor to Bitcoin. Having created Bit Gold, Szabo is considered by many to be Satoshi Nakamoto, the creator of Bitcoin. However, Szabo has denied these claims several times.

Who is the Bitcoin guy? ›

Sam Bankman-Fried
BornSamuel Benjamin Bankman-Fried March 5, 1992 Stanford, California, U.S.
Other namesSBF
EducationMassachusetts Institute of Technology (BS)
OccupationEntrepreneur
10 more rows

Who is Laszlo Bitcoin? ›

Today, Laszlo Hanyecz, known for his legendary pizza purchase on Bitcoin Pizza day, was not just a random IT developer who decided to use Bitcoin to buy a pizza. He was a member of Satoshi Nakamoto's original developer team and played a significant role in Bitcoin mining.

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