Craig Wright

Court Dismisses Craig Wright’s Case Against Bitcoin Developers

  • A U.K. court has dismissed a case against Bitcoin developers by Craig Wright.
  • The court says that Tulip Trading Limited has not established a serious issue to be tried on the merits of the claim.
  • Wright and TTL could still appeal against the decision.

Craig Wright’s case against Bitcoin developers may have been dismissed by the court, according to a court filing. Wright and his company Tulip Trading Limited (TTL), filed a case against 16 Bitcoin developers over funds related to the Mt. Gox exchange hack.

The crux of the case is that Wright claims that he is the owner of billions of dollars worth of bitcoin from Mt. Gox. The funds were part of the wallet that was affected by the infamous hack.

The defendants are all associated with the Bitcoin SV project, and TTL was expecting Bitcoin developers to make reparations. The company wanted the developers to allow TTL access to gain control of bitcoin and for them to

“owe bitcoin owners both tortious and fiduciary duties under English law as a result of the high level of power and control they hold over their respective blockchains.”

BitMEX Research posted an analysis of the filing, which shows that the court pointed to evidence saying that Wright was only involved with TTL from 2014. He had claimed that he was involved before that time. It also pointed out that the funds did not move, which would have been done if Craig Wright was hacked and the coins were stolen.

As such, the case has been dismissed. It says that the complainants had not established a serious issue to be tried on the merits of the claim. Craig Wright and TTL could still appeal, however.

Not the First Case Craig Wright Has Lost

Craig Wright has a controversial history in the crypto market, having been embroiled in several cases. One of these was a case against the Kleiman estate. Wright lost this case, which sent the crypto community into celebration.

Wright has also filed cases against others for defamation, which has not done much to engender support within the crypto community. Bitcoin SV does have ardent supporters, but with results such as the recent dismissal.

It remains to be seen whether Wright will appeal against the decision. The BSV project still continues to have its supporters, though it is losing some strength in the form of delistings. OKCoin delisted both BCH and BSV to support the bitcoin ecosystem.