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Craig Wright Demands Bitcoin Developers Give Him $ 5 Billion In BTC Back


The law firm Ontier LLP has taken legal action on behalf of self-proclaimed Bitcoin (BTC) creator Craig Wright to recover £ 3.5 billion (approximately $ 4.95 billion) in BTC, according to a document published yesterday.

Essentially, the firm demands that the "developers of BTC, BCH, BCH ABC and BSV" allow Craig Wright's Tulip Trading Limited (TTL) company "to regain access and control of their Bitcoin on the grounds that they owe them to the owners of Bitcoin both illegal acts and fiduciaries for duties under English law. "

Attorneys allege that Wright's personal computer was hacked in February 2020, resulting in the theft of two private crypto keys that apparently belonged to him.

“In February 2020, Dr. Wright's personal computer was hacked by unknown individuals and two-way encrypted private keys, containing substantial amounts of Bitcoin belonging to TTL, were stolen, Ontier claimed, adding: These assets were and continue being, property of TTL ”.

"Significant Implications" for Bitcoin

As such, the lawyers argued, the developers of Bitcoin, Bitcoin Cash, Bitcoin Cash ABC and Bitcoin SV should do everything possible to return the funds apparently stolen as “a result of the high level of power and control they have over their respective blockchains. ”.

Ironically, Wright is an outspoken advocate for Bitcoin SV and promotes the idea that it is the 'real' Bitcoin, but that didn't stop his lawyers from going after the BSV developers as well.

Ontier also claimed that this "claim will have significant implications for other users and the way Bitcoin operates."

“We affirm that there are identifiable legal obligations attributable to those who develop and control Bitcoin. As a victim of theft of any magnitude, Tulip Trading seeks to regain its access to and control of its digital assets from those who are in a position to remedy its loss, ”said Paul Ferguson, partner at Ontier LLP.

He also argued that "the fact that someone has stolen Bitcoin's private keys held by Tulip Trading does not prevent developers from implementing code to allow the rightful owner to regain control of their bitcoin."

However, it is not entirely clear how exactly lawyers suggest that Bitcoin developers return the coins that were allegedly stolen from Wright. Especially considering that the Bitcoin code is open source and there are no "official" developers, as literally anyone can submit their own proposals, which can then be implemented or not based on community consensus.

Wright's legal saga continues

Meanwhile, members of the Bitcoin community are not very happy with Wright's latest effort, although it would not be the first time. For example, Cobra, a pseudonymous maintainer of bitcoin.org, claimed that this is a well-planned and "very serious" legal attack against Bitcoin developers.

Craig Wright is now suing the Bitcoin developers. He wants access to coins that he alleges were stolen. Unlike the material in the whitepaper, this looks like a well-planned and very serious legal attack, ”Cobra said.

"Fuck any exchange that continues to list BSV," he added.

In turn, Monero creator Riccardo Spagni, aka Fluffypony, noted that one of the Bitcoin addresses Ontier attributes to Wright is actually the same address that received the stolen funds from the crypto exchange Mt.Gox in 2011. .

"We finally have confirmation, through his attorneys, that Craig Wright is the Mtgox hacker (see his property claim at 1FeeX (link). I imagine those affected by the Mtgox hack will want to go after ( sic) Craig Wright for stealing his BTC, ”Spagni tweeted.

As reported Crypto report, Craig Wright previously stated that he plans to register up to 6,000 patents on blockchain technology.

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