The alleged father of Bitcoin loses a major legal battle

Wright, the man who has long claimed to be the inventor of Bitcoin, has just lost a crucial legal battle. The verdict sheds light on the grey areas of his alleged invention. Elevated to the status of a myth, Wright suffered defeat at the hands of Peter McCormack. In 2019, McCormack had challenged his legitimacy as Bitcoin’s inventor in a series of fiery tweets.

A legal victory for McCormack

While the investigation continues in the UK, the British court has taken a decisive step. It rejected an appeal by Wright, who had accused McCormack of defamation. These corrosive tweets, in which McCormack called Wright a fraud, were considered defamatory by the court.

However, despite an initial decision in Wright’s favor, his behavior during the trial changed all that. Indeed, his attitude tipped the scales in McCormack’s favor, reducing the damages to a symbolic pound.

Dr Craig Wright v Peter McCormack

In the Court of appeal – Dr Wright has LOST his appeal and it has been dismissed.

The judges agreed with the decision of Justice Chamberlain to reduce his damages to £1 for putting forward “deliberately false” evidence on serious harm. pic.twitter.com/kSl8pSYn0A

— Peter McCormack🏴‍☠️ (@PeterMcCormack) July 26, 2023

The UK Court of Appeal took a stand on the case. It upheld the judgment, arguing that Wright had failed to provide sufficient evidence to support his accusations. Like a coin falling from the virtual cryptocurrency sky, the decision sounded like a thunderclap, reducing Wright’s claims to nothing.

Craig Wright: Potential consequences for further litigation

This decision could bounce off other pending cases like a bullet off a wall. Craig Wright, mired in a web of legal cases surrounding his alleged identity as Satoshi Nakamoto, could see this ruling influence other decisions. In particular, the one against Magnus Granath, known as hodlonaut.

In the current context, Wright is forced to post $516,000 bail to pursue his case against crypto exchanges Coinbase and Kraken. In this already tense atmosphere, the verdict of British judge James Mellor has added an extra dimension. Indeed, the decision has placed additional pressure on Wright’s shoulders. With inconsistent statements about his financial situation, the shadow of the imminent dismissal of the case hangs over his head.

Wright’s struggle to prove his identity as the father of Bitcoin seems to be crumbling like a house of cards. By shaking the foundations of his claims, this legal decision could mark a turning point in the saga of Bitcoin’s alleged inventor. Like a detective novel, the story continues to unfold, and the future holds more unexpected twists and turns in this quest for the truth. Who really is the father of Bitcoin? The question remains unanswered, but like an intrepid orphan, Bitcoin manages to blaze its own trail on the Telegram scene.