Bitcoin Developers Bite Back at 111K BTC Craig Wright Lawsuit

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Self-Proclaimed Bitcoin Creator Craig Wright to Pay $43M in Prejudgment Interest
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On Aug. 21, lawyers representing 12 developers told a court in the United Kingdom that the firm, Tulip Trading (TTL), never owned the 111,000 BTC it is trying to claim.

According to the court filing, the company has “fabricated” documents to prove ownership of the assets and fraudulently gain control over them.

TTL accepts that it must establish that it owns the digital assets in order to obtain the relief it seeks, it stated before adding.

“It cannot do so because it never owned the Digital Assets and has commenced this claim fraudulently and in reliance on fabricated documents.”

No Legitimate Claim to BTC

Furthermore, the document outlines Craig Wright’s history of dishonesty and fabrication of evidence in legal proceedings internationally.

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The filing was shared by the Bitcoin Legal Defense Fund, an organization funded by Block (formerly Square) founder Jack Dorsey and several others.

Craig Wright became infamous for claiming to be the creator of Bitcoin, Nakamoto Satoshi, a claim that has been widely refuted across the industry.

Timothy Elliss, a partner at Enyo Law, said Tulip Trading has commenced the assertion fraudulently, knowing it has no legitimate claim to the Bitcoin, valued at $2.9 billion at current prices.

There is no evidence that Craig Wright, who is involved in multiple lawsuits, or his company ever owned the wallets that held the Bitcoins in question, he added.

Overall, the statement argues there is a compelling case the claim is fraudulent, and the decisive question of ownership should be determined first in a preliminary trial.

Wright Buried in Lawsuits

In February, Wright’s firm alleged that the developers owe “fiduciary duties” or “duties of care” to police and control the Bitcoin network.

In October, Wright lost a lawsuit to Twitter’s anonymous Bitcoiner Hodlonaut, having to shell out $383,000 in fees and expenses.

In November, whistleblower Edward Snowden called out Wright for being a fraud following an online spat.

In July, a UK court ruled that Wright must pay $516,000 to proceed with another lawsuit against Coinbase and Kraken.

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