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Craig Wright Sues Developers For Hacking His $5.7B Bitcoin

Craig_Wright_launches_lawsuit_against_16_bitcoin_developers_to_‘retrieve’
  • Craig Wright has sued 16 Bitcoin developers over his $5.7 billion BTC loss.
  • According to Wright, the developers deceived him.
  • Wright’s hacking incident is still under investigation.

Craig Wright has filed a London-based High Court lawsuit against 16 Bitcoin developers over his $5.7 billion Bitcoin loss. As per Wright, the developers deceived him with false promises that they will serve him in the best interest.

Specifically, the developers are from about four networks. These networks are Bitcoin Satoshi Vision (BSV), Bitcoin Core (BTC), Bitcoin Cash (BTCH), and Bitcoin Cash ABC (ABC).  Briefly, Wright is an Australian computer scientist who claims he invented the flagship currency Bitcoin.

According to a report, Wright claims that he lost his private keys that resulted in the hacking incident of his home computer in February 2020. Responding to Wright, one defendant called Wright’s case “bogus” Yet, the case is still under investigation.

At the time of writing, Wright is eager for access so he can get back his 111,000 Bitcoin holdings from his two addresses. Moreover, Wright claims that he does not also have private keys for these said two addresses.

Ontier law firm Partner Paul Ferguson said,

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.

Adding to this, Peter Todd expressed that Wright has not yet given any tangible evidence that clearly shows his ownership of the Bitcoin.

Furthermore, the crypto community believes that the outcome of Wright’s incident will bring a new way in making crypto-theft decisions.

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Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.