Craig Wright Loses 1 Million BTC Coins In A Lawsuit

Craig Wright, who proclaimed himself as the creator of Bitcoin – Satoshi Nakamoto – lost the lawsuit against him by Ira Kleiman, brother of the Dave Kleiman. Ira Kleiman accused Wright of illicitly seizing Dave’s Bitcoins, held in a family trust. Dave Kleiman and Craig Wright allegedly mined over one million Bitcoins.

In 2018 Ira Kleiman deposited a lawsuit against Wright. Bruce Reinhart, Florida Federal judge, ruled in favor of the Kleiman family, recommending to Wright to hand over half of the Bitcoins he and Kleiman mined together before December 31st, 2013. Wright has the right to appeal the decision, which is most likely to happen, given the price of Bitcoin as of press time.

The crypto community follows the development of the case closely, because moving such significant quantities of Bitcoins and their possible liquidation could bring the global crypto market to its knees, lowering not just Bitcoin’s price, but also the value of all cryptocurrencies.

The case is not over yet, as District Judge Beth Bloom has to confirm judge Reinhart’s ruling.

Craig Wright caused mass havoc in the Bitcoin community when he proclaimed himself as the creator of the first cryptocurrency Satoshi Nakamoto. Many of those who were against Craig`s allegation found themselves with lawsuits for lies and reputation damage. Roger Ver put the fight with Wright to the extreme, posting a video on Youtube, where Ver calls Wright a liar and a fraud. The lawsuit, however, turned out in Ver’s favor. The UK court ruled against Wright because “his accusations lack provable damage to Craig’s personality.” The UK court also noted that Wright’s accusations are highly speculative.