• Craig Wright is suing 15 Bitcoin developers to obtain 111,000 BTC worth $2.5 billion.
• The U.K.’s Court of Appeal ruled that developers may owe duties to owners of a blockchain and granted the lawsuit permission to move forward.
• If Wright wins, the developers could be required to write software patches that would help his company recover the full amount.
Craig Wright’s Lawsuit Against Bitcoin Developers
Craig Wright is suing 15 Bitcoin developers in an attempt to obtain 111,000 BTC worth $2.5 billion. This lawsuit is being pursued in the U.K., and the U.K.’s Court of Appeal recently ruled that developers may owe duties to owners of a blockchain, granting the lawsuit permission to move forward.
If Wright wins this case, the developers could be required to write software patches that would help his company recover the full amount of crypto he claims was stolen from him years ago due to a hack. This outcome could also have a broad impact on blockchain development as a whole.
Wright’s Relationship with Cryptocurrency Community
Wright has had a tumultuous relationship with the cryptocurrency community due to his claims that he is Satoshi Nakamoto —the pseudonymous inventor of Bitcoin— and has leveraged this role in various legal cases over time with varying success levels.
The lawyer representing several of these developers appealed against this case stated they are „incredibly nervous“ about its potential outcome as they could potentially end up having to pay money themselves if it turns out in favor of Wright’s case against them.
The trial for Craig Wright’s lawsuit against multiple Bitcoin developers is set to go ahead, which will determine whether or not these developers are made liable for any damages or losses suffered by Wright as result from a hack he experienced years ago and could have widespread implications for blockchain development as well as those involved in it directly such as these defendants in this case going forward into trial soon..