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Craig Wright loses lawsuit over Satoshi Nakamoto claims

Craig Wright claims he is Satoshi Nakamoto, the creator behind Bitcoin. However, he lost the lawsuit against Hodlonaut over these claims.

According to court documents released on Thursday, a crypto influencer Magnus Granath, also known on Twitter as “Hodlonaut,” has won in a lawsuit in Norway against Craig Wright. 

Wright has long claimed that he is the man who invented Bitcoin under the alias Satoshi Nakamoto. However Hodlonaut and numerous other people have openly disputed Wright’s assertions.

Related article: How will Bitcoin surprise us this time?

For years, Wright claimed to under the moniker Satoshi Nakamoto. Now he officially lost the lawsuit between him and Granath. Wright issued a threat against Hodlonaut and several others in 2019 called ‘welcome to the law.’ Now as Hodlonaut won the lawsuit tweeted ‘I won. Welcome to law.’ 

“I expected to win, since truth is so clearly on my side in this case and I am very happy that the judge saw it the same way,” said Hodlonaut.

Hodlonaut was showing people Wright is a fraud since 2019 when he repeatedly called him a scammer and fraud. Wright said such statements are ‘obviously very defamatory.’ Hodlonaut earned many supporters, so clearly a lot of people saw Wright is not what he claims to be. 

Hodlonaut even created a website called DefendingBTC that was supposed to raise funds for the trial. Over 2,700 people joined and donated more than 71 BTC along with $74,000 for the legal defense of this case. Even the CEO of Binance knew Wright is not Satoshi Nakamoto.

Craig Wright won one lawsuit in the UK against Peter McCormack. However, he only received one British pound after seeking damages. This was mainly because Wright allegedly provided false evidence in the case, and now he lost.

Also read: UK Prime Minister Liz Truss resigns after just six weeks

“Norwegian Judge Helen Engebrigtsen wrote that the pseudonymous website editor had sufficient factual grounds to claim that Wright had lied and cheated in his attempt to prove that he is Satoshi Nakamoto,” states CoinDesk. 

Bottom line

It is unclear whether someone else believed Wright is Nakamoto other than himself, but now it is factually confirmed. Logically speaking, there is no reason for Nakamoto to come out of nowhere and fight with bitcoiners as he chose to disappear. 

In conclusion, Hodlonaut is released from any liability claims relating to the Twitter comments made by the account and is not responsible for any harm caused. Wright must also pay $348,257 in damages to Hodlonaut as further compensation. Welcome to law. 

I got into financial markets by accident in 2012 and started with Forex trading. Later in 2017, I started investing in stocks in cryptocurrencies and began writing articles profess...


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