Craig Wright Challenges 500k Bitcoin Court Order

Computer scientist Craig Wright, who claims for years that he is the original creator of Bitcoin, disputed the recent court order which demanded a payout of 500,000 bitcoin. Despite the general sentiment that Wright does not actually own a significant amount of crypto assets, Wright’s legal team demanded a delay of two weeks to contest the order.

Craig Wright

Craig Wright, the controversial Australian computer scientist who claimed the identity of Satoshi Nakamoto, contested a court order which required him to pay 500,000 bitcoins. His attorney, Andres Rivero, requested for a two-week delay in order to confront the court’s recent decision, made by Magistrate Bruce Reinhart.

In the document sent to the Southern District of Florida, Rivero stated that the Magistrate did not have the power do make the order. Aside from spelling the Magistrate’s name wrong, Rivero additionally requested for the court order to be delayed, expressing the necessity to consult with the rest of the legal team, in order to address the ‘legal validity’ of the court’s order.

While the request may seem sensible, the reason behind it is disputable. The legal team defending Craig Wright used hurricane Dorian, which is currently threatening Florida, as a major reason behind the delay. The team stated that they have spent a majority of their time preparing for the hurricane, preventing them from working on the case.

The current court case started with the estate of Dave Kleiman pursuing a lawsuit against Craig Wright, which became public for the first time in February last year. Kleiman’s estate claimed that Wright stole more than 100,000 bitcoins from the deceased computer scientist. At the moment of filing the case, the number of disputed bitcoins had an estimated value of around five billion dollars.

Craig Wright responded to the initial lawsuit by claiming that the taxes alone from selling the significant number of bitcoins would create a strong reaction in the crypto market, causing extreme volatility in return.

 

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