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Craig Wright Sends His Lawyers Against Bitcoin Developers

Linas Kmieliauskas
Last updated: | 1 min read

The outspoken Australian, Craig Wright, dubbed “Faketoshi” due to his unproven claims that he’s Satoshi Nakamoto, made another move that left the cryptoverse bewildered.

Craig Wright. Source: a video screenshot, Youtube, Crypto Finder

UK-based litigation law firm Ontier said it begun legal proceedings against a number of unspecified Bitcoin (BTC), Bitcoin Cash (BCH), and even Bitcoin SV (BSV) developers on behalf of Tulip Trading Limited (TTL), controlled by Wright.

Per the firm, TTL “is requesting that the developers enable TTL to regain access to and control of its bitcoin,” allegedly stolen from Wright in February 2020.

“[The Developers] owe Bitcoin owners both tortious and fiduciary duties under English law as a result of the high level of power and control they hold over their respective blockchains,” Ontier said, adding that the value of the claim as at today’s market rates will be in excess of GBP 3.5bn (USD 4.94bn).

According to Paul Ferguson, Partner at Ontier, “the fact that someone has stolen Tulip Trading’s digitally-held private Bitcoin keys does not prevent developers from deploying code to enable the rightful owner to regain control of its bitcoin.”

The cryptoverse was quick to react.

“This is crazy. The developers don’t run these chains, they just maintain the codebases. This is like threatening [Linux developer] Linus Torvalds because you lost your Bank of America password,” a partner at US-based law firm Anderson Kill, Preston Byrne, said.

Other reactions:

Learn more:
Craig Wright’s Anti-Bitcoin Attempts Helped Bitcoin
OKCoin Suspends Bitcoin Cash, Bitcoin SV Trading
Satoshi-era Bitcoin Miner Calls Craig Wright a Fraud Using “His” BTC Addresses
‘Craig Wright Is Not the Victim Here’ as He Tries to Dodge Sanctions
DeFi, DEXs, Stablecoins, Chainlink – All Scam, Says Craig Wright