Australian man Craig Wright sentenced over $1.9 trillion Bitcoin lawsuit
eek, Wright failed to show up to a hearing over his decision to launch a $1.9 trillion lawsuit against payments company Block, owned by Twitter founder Jack Dorsey, according to Reuters. It was argued by lawyers for the Crypto Open Patent Alliance (COPA), a group of technology and cryptocurrency firms, that the lawsuit constituted contempt of court as he had been ordered to refrain from making any claims related to Bitcoin.
Judge Mellor ruled that Wright was in contempt of court and sentenced him to one year in prison, suspended for two years. Despite appearing remotely for his sentencing hearing on Thursday, Wright refused to disclose his current location when asked by Judge Mellor, with court documents stating that he was in either Singapore or Indonesia. Wright mentioned plans to appeal the contempt finding.
In a previous ruling in May, Judge Mellor found in favor of COPA that Wright was not Satoshi Nakamoto, as he had forged evidence by backdating and altering files and faking emails. Bitcoin, which has seen a significant increase in value since its launch in 2008, was more than $157,000 per unit on Friday morning.
The case of Craig Wright serves as a cautionary tale about the importance of honesty and integrity in the tech and cryptocurrency industry, where trust and transparency are essential for building a reliable and secure financial system. It is a reminder that claims must be substantiated with irrefutable evidence to avoid legal consequences. The story of Craig Wright and his Bitcoin lawsuit highlights the repercussions of dishonesty and deception, showing how the legal system upholds accountability and justice in the digital age.
