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Craig Wright ordered to pay $1 million as lawsuit takes new twist

In this post:

  • Craig Wright has been ordered to pay $1 million as his Bitcoin lawsuit takes a new turn.
  • Allegations and the financial implications of the case.

In the unfolding legal saga surrounding the identity of Satoshi Nakamoto and the rights to Bitcoin, a recent development has shifted the focus. A British judge has rescheduled the trial between Craig Wright, who claimed to be Satoshi Nakamoto in 2016, and Bitcoin Core developers to February 5. Wright’s legal battle involves a lawsuit against 13 Bitcoin Core developers and several prominent companies, including Blockstream, Coinbase, and Block.

Craig Wright’s satoshi lawsuit rescheduled

Craig Wright’s allegations center around the violation of his copyright to Bitcoin’s white paper, Bitcoin file format, and the Bitcoin blockchain database. The defendants are collectively represented by the Cryptocurrency Open Patent Alliance (COPA), a non-profit organization. During a pre-trial review on December 15, Justice Edward James Mellor permitted Wright to introduce an additional 97 documents supporting his claim. These documents were reportedly found on two USB drives discovered in a drawer at his residence in September.

Among them were LaTex files, an open-source document preparation system integral to drafting the Bitcoin white paper. However, the Bitcoin Core developers did not accept these documents without challenge. Serious allegations were raised against Wright, accusing him of fabricating evidence, forging and manipulating metadata, and intentionally prolonging the legal proceedings. According to the developers, the emergence of these new documents only followed their submission of 50 pieces of evidence challenging the authenticity of Wright’s previously filed materials.

Allegations and the financial implications of the case

In response to the evolving situation, Justice Mellor granted the developers a second security application. Craig Wright is now obligated to pay an additional £800,000 (approximately $1 million) by January 5 to cover the legal costs of the developers in the event of an unfavorable trial outcome. It’s worth noting that Craig Wright had already deposited £100,000 ($127,000) as a security payment. The judge further ordered Craig Wright to pay £65,000 ($82,000) to cover COPA’s costs related to expert evidence concerning his Autism Spectrum Disorder (ASD).

Wright, claiming a disability due to ASD, provided a report outlining necessary adjustments for his participation in the trial, including a comprehensive list of all cross-examination questions. Cross-examination is a critical process where the opposing party poses questions to either clarify or discredit a witness’ testimony. This particular aspect faced opposition from the Bitcoin developers. They hired an expert to support their claims, leading to the judge’s decision that Wright would only be permitted to access LiveNote Screen and write questions on paper during the trial.

Beyond the intricate legal proceedings, the case brings attention to the decentralized nature of cryptocurrency and the broader implications for intellectual property rights. The open-source character of the Bitcoin code, distributed freely under the Massachusetts Institute of Technology license, allows users to repurpose it for various applications, including proprietary ones. Wright’s argument posits that Bitcoin Core developers form a “Bitcoin Partnership” allegedly wielding control over Bitcoin. As this legal battle unfolds, the cryptocurrency community watches closely for any developments that could influence the broader understanding of intellectual property rights.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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