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Self-Proclaimed Satoshi Craig Wright Ordered to Pay $100 Million in Damages

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Mon, 12/06/2021 - 17:10
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Alex Dovbnya
A federal civil trial over the enigmatic 1.1 million BTC fortune has come to a close
Self-Proclaimed Satoshi Craig Wright Ordered to Pay $100 Million in Damages
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A federal jury in the Southern District of Florida has concluded that Dr. Craig Wright, a self-proclaimed Satoshi Nakamoto who acted as a defendant in the Wright vs. Kleiman trial, is not liable for breaching his partnership with late computer scientist Dave Kleiman, clearing him on all but one count.

The jury also awarded $100 million in damages to W&K Info Defense, the firm that mined the enigmatic 1.1 million Bitcoin at the heart of the dispute. Wright was found liable for conversion, an act of exercising dominion over property belonging to another person.   

The trial was meant to decide the fate of the enormous Bitcoin stash that the Australian computer scientist claims he controls.   

The nChain boss was taken to court by plaintiff Ira Kleiman who was representing the estate and W&K Info Defense. His brother, Dave Kleiman, worked alongside the Australian businessman before passing away in 2013.

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Wright was accused of defrauding his business partner by the Kleiman estate. The plaintiff was asking for a 50% share of Wright's alleged Bitcoin fortune as well as his intellectual property.

Stephen D. Palley, a partner at Washington-based law firm Anderson Kill, has commented that the jury verdict is not favorable for Wright. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.