Craig Wright, who claims to be the creator of Bitcoin, has lost his libel case against Peter McCormack, a podcaster who called him a fraud. The court ruled that Wright gave false evidence and awarded him only £1 in damages.
Craig Wright, an Australian computer scientist, has long claimed to be Satoshi Nakamoto, the pseudonymous inventor of Bitcoin.
However, many in the crypto community have met his claim with skepticism and criticism, doubting his evidence and motives.
One of his critics is Peter McCormack, a Bitcoiner and Podcaster who hosts the What Bitcoin Did show.
In 2019, McCormack tweeted that Wright was a fraud and not Satoshi and also discussed his views in a YouTube video.
Wright sued McCormack for libel, seeking more than £100,000 in damages. He argued that McCormack’s statements harmed his reputation within the crypto industry and caused him to lose invitations to speak at conferences.
Court Says Wright Gave False Evidence
However, Wright’s case collapsed in court, as he was found to have given false evidence and advanced a false case.
The court found that Wright had no evidence of losing conference invitations, lied about his academic papers, and advanced a false case and evidence.
As a result, the court awarded Wright only £1 in damages, which is the lowest amount possible in a libel case. Given Wright’s dishonesty and the nature of the libel accusation, the court this action justified.
Wright Vows to Continue Legal Actions
In a statement, Wright expressed his disappointment with the court’s decision and said “orchestrated online vitriol” had harmed his well-being.
He also said that he would continue to pursue other legal actions to defend his claim to be Satoshi Nakamoto.
He is currently involved in another lawsuit in Florida, where he is accused of stealing billions of dollars worth of bitcoin from his late business partner.
McCormack tweeted that he was relieved by the outcome and would continue to support others facing similar lawsuits from Wright. He also commended his lawyers and supporters for their help.
McCormack’s lawyers said they would seek to recover their legal costs from Wright, estimated to be more than £750,000.
