IT expert convicted for repeatedly lying about inventing Bitcoin

Published On Dec 19, 2024, 11:47 AM

Craig Wright, who has persistently claimed to be Satoshi Nakamoto, the inventor of Bitcoin, has been found in contempt of court by a UK judge. He was previously ruled against and ordered to stop his claims, but failed to comply, prompting the judge to suspend a 12-month prison sentence for two years. Wright's actions have been described as 'legal terrorism,' and his false claims have created a chilling effect on the cryptocurrency industry, leading to costly legal battles. This situation underscores the legal challenges related to intellectual property in crypto and could influence investor sentiment regarding Bitcoin and related assets.