Bitcoin Developer Peter Todd Goes Into Hiding After HBO Documentary, Fears Further Harassment 

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

October 22, 2024

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Bitcoin core developer Peter Todd says he faces ongoing harassment after an Oct. 8 HBO documentary wrongly identified him as Satoshi Nakamoto. He claims many people have contacted him, asking for money.

Todd swiftly refuted claims of being Nakamoto, even though the two-hour documentary pinpointed him as the main suspect.

In a recent Wired interview, Todd shared that he’s gone into hiding, stating Satoshi had valid reasons for remaining anonymous. The developer reportedly received 25 emails from an individual in just two days, asking for help with a loan repayment.

Todd expects the harassment to continue for a while. However, his main concern is personal safety, leading him to choose seclusion.

Bitcoin Core Dev Peter Todd Says Pursuing Satoshi Is Futile

Several reasons indicate Todd isn’t Nakamoto. While Todd has made notable strides in improving Bitcoin, particularly in security and scalability, his work focuses on refining an existing system.

In contrast, Satoshi’s role was to build Bitcoin’s foundational technology, introducing groundbreaking ideas like decentralized finance and trustless exchanges.

But, the developer argues that searching for Satoshi is pointless. Without its founder being known, Bitcoin has flourished under a merit-based system where ideas are debated and approved through collective consensus. Todd explained that being falsely or even correctly identified as Satoshi could expose someone to serious personal risks.

He said he believes the documentary’s filmmaker leveraged the Satoshi accusation for marketing purposes. “He needed a way to get attention for his film.”

Why Satoshi Nakamoto’s Identity Remains Shrouded in Secrecy

The mystery around Nakamoto’s identity persists due to deliberate secrecy, the complexities of online identities, and the project’s design. From the beginning, Nakamoto used a pseudonym, interacting online without revealing personal details.

It’s believed Nakamoto holds a large amount of Bitcoin, which could make him one of the richest individuals if identified. This wealth could expose him to lawsuits, tax scrutiny, or personal threats, providing strong reasons for staying hidden. Fear of legal, financial, or safety risks likely motivates him to remain anonymous.