Bitcoin Dev. Firm, Blockstream’s Cofounder Explains Craig Wright Latest Failed Lawsuit

Lujan Odera Regulation News published April 13, 2020 | modified April 13, 2020

Bitcoin Dev. Firm, Blockstream’s Cofounder Explains Craig Wright Latest Failed Lawsuit

Australian Computer scientist/lawyer and self-proclaimed Satoshi Nakamoto, Craig Wright, is back in the courts – this time suing Adam Back, Cofounder of Blockstream. Wright sent a libel suit to the UK Courts back in Jun 2019 and Back was notified of via EU cross-jurisdiction process to Malta, Blockstream’s home, in Sep 2019.

And herein started the fishy business.

Craig Wright withdraws…

Back chose London-based firm, RPC Law, to represent him in the case (the law firm represented Peter McCormack against Craig in a past case). However, in mid-January this year, following Adam’s legal team filing of intent to contest, Craig is alleged to have “pre-emptively notified court he was discontinuing the case.”

Adam said the cost of the case could have cost Mr. Wright a little more than £20,000 GBP. He wrote on Twitter,

“SCA (representing Wright) were asked and declined to give any explanation of why Craig retracted. Consequently Craig agreed to reimburse 100% of my costs, which is unusual: standard is ‘reasonable costs’ (65-75%), vs fault assumed ‘indemnity’ costs (80%). probably whole thing cost Craig > 20k GBP.”

Craig Wright sues Blockstream on “possible” hack

According to reports that emerged in late 2019, the said “Bitcoin founder” claims Blockstream initiated a hack on him to swing the infamous “Kleinman estate vs Craig lawsuit” whereby Blockstream is on the plaintiff’s side. However, no evidence was found by the court of any hacking that took place on Craig Wright.

It’s worth noting that Wright alleges the hacking to have taken place during the early days of Bitcoin’s development, although Blockstream wasn’t founded until 2014 – five years after the inception of Bitcoin.

Earlier this year, Craig failed to produce keys to the wallet containing the “genesis mined” BTC asking for more time from the courts.

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Lujan Odera 388 Articles
Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.
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