Craig Wright launches new legal challenge over Bitcoin identity

By Mariusz Lewandowski; Source: bitperfect

In a renewed effort to assert his claims in the cryptocurrency space, Craig Wright has launched another legal action, arguing that modern Bitcoin developers have strayed from its founding principles. He insists that Bitcoin SV represents the true essence of Bitcoin, and is now seeking more than $1.18 billion in damages based on the market valuation difference between Bitcoin and Bitcoin SV.

Wright, who has previously been embroiled in legal disputes over his claims to be Bitcoin’s alleged creator, Satoshi Nakamoto, has recently filed a lawsuit in the UK High Court alleging that the defendants made significant changes to the original Bitcoin protocol. He points to the introduction of the SegWit and Taproot upgrades as key modifications that misrepresent Bitcoin’s intended design. Wright argues that these modifications created confusion and misunderstanding in the market, misleading investors about Bitcoin’s true attributes.

The defendants named in the lawsuit include Bitcoin Core developers and payment services associated with Jack Dorsey. The lawsuit quantifies its claims by highlighting the starkly different transaction values ​​between Bitcoin (then priced at $62,000) and Bitcoin SV (valued at around $65).

While advocates of decentralized governance say protocol changes come from community consensus, Wright argues that his unique vision for Bitcoin should take precedence. Experts have expressed skepticism about the viability of Wright's claims, especially given previous court rulings that have disproven his claim to be Bitcoin's creator.