The High Court of Justice in London ruled in a defamation action that the statements of Craig Wright, the self-proclaimed creator of Bitcoin (BTC) and one of its most giant whales, were fraudulent.
Australian computer scientists alleging Satoshi Nakamoto sued Peter McCormack of libel for saying he was not Satoshi and his false assertions.
According to the court’s judgement dated August 1, Wright’s initial witness statement was deemed “false in almost every material regard.” The presiding judge said that his decision was based on various factors.
Other factors included the fact the original case and proof were later proven to be false, the scheduling of Dr Wright’s third witness statement, and the unclear and unconvincing oral evidence provided by Dr Wright in assistance of his new case at trial, as well as the lack of an appropriate or compelling explanation for its falsity.
The controversy surrounding the self-proclaimed creator of Bitcoin
Vitalik Buterin, the inventor of Ethereum (ETH), accused Wright of impersonating the mysterious founder of the biggest cryptocurrency in June 2021, comparing him to former U.S. President Donald Trump and challenging Wright’s attorneys to suit him.
As of mid-March 2022, a federal court accused Wright of unlawfully stealing intellectual property from a joint company he co-founded, according to Finbold.
More recently, Wright made public assertions that he intended to ultimately sell his estimated supply of 1.1 million Bitcoin, which according to CoinMarketCap statistics, is presently valued at close to $25.39 billion.
These revelations sparked worries of a market meltdown, notably because Wright had already announced his plan to execute a 51 percent network assault.