A computer scientist in Australia claims to have invented Bitcoin and has filed a lawsuit to recover $7.25 billion in the digital currency he claims to own.
Craig Wright is asking that 16 programmers of the digital currency enable him to recover about 111,000 Bitcoin stored at two digital addresses for which he does not have private keys in a London High Court case that has already been called “bogus” by one claimant.
When his personal computer network was compromised in February 2020, Wright claims he missed the encoded keys. The investigators are searching into it.
Wright has said since 2016 that he produced the Bitcoin foundational white paper in 2008 under the alias Satoshi Nakamoto, which explained the technologies underlying the digital assets for the first time.
The claim is hotly disputed.
The autistic Australian, who stays in the United Kingdom with his wife and two of his three children, claims that developers have failed to behave in the best interests of the legitimate owner of internationally traded properties in his new case.
‘Our client has always maintained that he created Bitcoin to operate within existing laws and that in the event of loss or theft, where legitimate ownership can be proven, the developers have a duty to ensure recovery,’ stated Paul Ferguson, a partner at law firm Ontier, which is representing Wright.
According to a legal document, the lawsuit is being taken against the creators of four networks: Bitcoin Satoshi Vision (BSV), Bitcoin Core (BTC), Bitcoin Cash (BCH), and Bitcoin Cash ABC (ABC) at addresses in Europe, the United States, New Zealand, Australia, and Japan.
Peter Todd, one of the suspects, stated that he and other people were not engaged in day-to-day network production, that Wright had not established his possession, and that Bitcoin ought not to be liable to “arbitrary seizure.”
‘As this very case shows, if we allow people to get coins seized and reassigned by court order, that puts your coins at risk of being stolen by abuses of those fallible processes,’ he stated in an email.