- Wright is suing the developers for not implementing a software mechanism
- It would have let him get the Bitcoin back
- Tulip Trading never actually owned the 111,000 BTC it claims to have lost
Twelve Bitcoin developers are contending a lawsuit brought before English courts, which alleges that they wrongfully rejected Craig Wright’s crypto firm’s request for help getting back billions of dollars of Bitcoin. The firm supposedly lost the Bitcoin in an exploit, CoinDesk reported, citing a court filing.
Tulip Trading never owned the BTC
The developers’ attorneys told the UK High Court that Tulip Trading, Wright’s company, never actually owned the 111,000 BTC it claims to have lost. The developers claim that the firm “fabricated” documents of Bitcoin ownership and was trying to gain control over the funds in a fraudulent manner.
The filing was shared by the Bitcoin Legal Defense Fund, funded by the former Twitter and Jack Dorsey, the founder of Bluesky and Block. The attorneys said in a statement:
Tulip Trading never owned the digital assets and has commenced this claim fraudulently and in reliance on fabricated documents. Dr. Wright has a long history of fraud, forgery, and dishonesty … [and is using] the English courts as an instrument of fraud.
Wright still claims to be Satoshi
In 2021, Wright sued the developers for not implementing a specific mechanism in Bitcoin-based software, which would allow his company to take control of the Bitcoin that it had lost. Wright also claims he is Bitcoin creator Satoshi Nakamoto.
His attorneys claim the developers failed to fulfill their “fiduciary duty” by not helping Tulip Trading.
Lawsuit against Coinbase and Kraken dismissed
The purported Satoshi has a track record of litigating disagreements. In July, an English court dismissed his lawsuit against Coinbase and Kraken, which alleged the crypto exchanges violated his copyright by using the name “Bitcoin.”
In 2022, he lost an anticipatory lawsuit, which accused him of lying about being Satoshi. He is currently involved in lawsuits in the US and Norway as well.
