HomeNewsCraig Wright’s Claims Deemed False: UK Judges Validate Minimal Damages

Craig Wright’s Claims Deemed False: UK Judges Validate Minimal Damages

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  • In a libel case against podcaster Peter McCormack, Craig Wright’s claims to be Satoshi Nakamoto were determined as false, justifying minimal damages awarded by UK judges.
  • Besides this case, Wright faces legal hurdles in separate UK and Florida court cases, further escalating his ongoing controversies in the crypto world.

Craig Wright’s assertions to be Bitcoin founder Satoshi Nakamoto took another hit as UK judges deemed his claim false in a libel suit against Bitcoin enthusiast and podcaster Peter McCormack. The legal appeal seeking more than nominal damages failed, with the judges collectively agreeing that Wright was rightfully awarded just 1 British pound ($1.29) as compensation, considering the disingenuous nature of his case.

Courtroom Consequences of Unverified Claims

The London Court of Appeal judges on Wednesday upheld an earlier ruling by High Court Judge Martin Chamberlain. Lord Justice Mark Warby stated on July 26 that Chamberlain was

“clearly right to treat Dr. Wright’s lies and deception as ‘disreputable facts that are properly before the court’.”

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In context of the libel revolving around an accusation of dishonesty, the deceptive conduct of the litigation was relevant.

Responding to this verdict, Wright expressed disappointment in an email statement to CoinDesk, alleging that the court failed to recognize the damage caused by the “orchestrated online vitriol” that affected his wellbeing.

In the wake of the judgement, McCormack urged continued support for others entangled in similar lawsuits with Wright, including Twitter user Hodlonaut. McCormack’s legal representatives were yet to comment.

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In an October 2021 judgment, Chamberlain concluded that McCormack couldn’t substantiate allegations that Wright was a fraud. However, Wright was only granted nominal damages, as the judge noted Wright’s advancement of false evidence. McCormack was later obligated to pay around 900,000 pounds in legal expenses.

A Web of Legal Challenges

In addition to this, Wright is embroiled in separate legal battles. A UK court ruling on Tuesday stated that Wright is required to furnish 400,000 pounds in security for legal costs to press his claim against crypto exchanges Kraken and Coinbase. Wright alleges these exchanges infringe upon his intellectual property by facilitating the trade of bitcoin (BTC) and bitcoin cash (BCH).

Moreover, a Florida court is set to deliberate on Wednesday over allegations that Wright committed contempt of court in a $143 million dispute with former business associate Ira Kleiman – charges that Wright vehemently denies.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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