nChain CEO Departs Accusing Dr. Craig Wright of Fraud

Christen Ager-Hanssen, the Group CEO of blockchain technology company nChain, has announced his resignation, effective immediately. Ager-Hanssen took to social media on September 30, 2023, to detail the reasons behind his departure, highlighting a series of serious concerns he reported to the nChain board. Among these, he alleged a conspiracy to defraud nChain shareholders orchestrated by a significant shareholder and raised concerns about the ultimate beneficiary shareholder and the real individuals behind DW Discovery fund registered in Cayman. The former CEO also mentioned that the chairman had been taking instructions from shadow directors, which he found unacceptable.

Evidence against Dr. Craig Wright

A notable part of Ager-Hanssen’s revelation was his assertion that he had discovered compelling evidence against Dr. Craig Wright, a controversial figure in the blockchain community who claims to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Ager-Hanssen stated that the evidence he found suggests Wright manipulated documents to deceive courts about his identity as Satoshi. This led Ager-Hanssen to believe that Wright is not Satoshi and is likely to lose his ongoing legal battles. He expressed regret for not having recognized these issues earlier, referring to Wright as “#Faketoshi” in his tweets.

Reactions from the Crypto Community

Ager-Hanssen’s disclosure generated a significant reaction from the cryptocurrency community. Several individuals, including Ray Youssef and Rahul Sood, supported his decision to come forward with the information. Others inquired about his past support for Wright and what changed his perspective. Ager-Hanssen acknowledged that he was misled into believing that Wright was part of the group that created Bitcoin.

A Look Back at Algorand

Some commentators also touched on Ager-Hanssen’s past involvement with Algorand, suggesting that he should have stayed with the project, regarded by some as superior blockchain technology. Ager-Hanssen admitted his mistake and expressed openness to exploring scalable technologies moving forward. The discussions also delved into the broader implications of the former CEO’s allegations on the Bitcoin SV (BSV) community, which largely rallied around Wright’s claims in the past.

Future Endeavors

Although the immediate future remains uncertain for Ager-Hanssen, he expressed gratitude for the support received and hinted at his willingness to explore other opportunities in the blockchain space. The narrative underscores a significant event in the ongoing saga surrounding the true identity of Satoshi Nakamoto and adds another layer to the controversies enveloping nChain and Dr. Craig Wright.

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UK Court of Appeal Examines Copyright Claims over Bitcoin File Format

The UK Court of Appeal has been examining a claim related to the copyright of the Bitcoin File Format. The case is an appeal from an order of Mellor J, dated 7 February 2023, which refused to grant the Claimants permission to serve the claim form on Defendants outside the jurisdiction of England and Wales. The claim form is centered around an alleged infringement of copyright in a work referred to as the Bitcoin File Format.

The First Claimant, Dr. Craig Wright, asserts that he is the creator of the Bitcoin system, the author of the original Bitcoin source code, and the author of a document known as “the White Paper”. He alleges that he made the White Paper public on 31 October 2008 under the pseudonym Satoshi Nakamoto. This claim is one of four in the Business and Property Courts involving Dr. Wright, with a common issue being whether it was Dr. Wright who adopted the pseudonym Satoshi Nakamoto when announcing the creation of the Bitcoin system. This issue is set to be determined at a trial in January 2024.

Dr. Wright claims that he owns the copyrights in two original literary works: the Bitcoin File Format and the White Paper. He also alleges to be the owner of database rights in three databases related to the Bitcoin blockchain. The Second and Third Claimants are companies controlled by Dr. Wright, which have joined the case in the event they own some or all of the rights claimed.

Dr. Wright has raised objections to two “airdrops”, which he claims made significant changes to the Bitcoin system without his consent. The first airdrop occurred on 1 August 2017, resulting in what Dr. Wright refers to as the BTC Network. The second airdrop occurred on 15 November 2018, creating another new peer-to-peer network, the BCH Network. Dr. Wright alleges that the operation of the BTC blockchain and the BCH blockchain results in the extraction and/or re-utilisation of all or substantial parts of the databases in which he claims to own database rights.

The outcome of this case could have significant implications for the copyright status of the Bitcoin File Format and other similar digital assets. Legal and cryptocurrency experts are closely monitoring the case. The identity of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, remains a mystery. Dr. Wright’s claims have stirred controversy in the crypto world, and the case’s resolution may provide some clarity on these contentious issues.

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Twitter CEO Jack Dorsey Launches New Legal Defense Fund To Protect Bitcoin Developers From Lawsuits

The former head of Twitter is spearheading a new effort to advocate on behalf of Bitcoin (BTC) developers in legal matters.

Jack Dorsey announced the creation of the nonprofit Bitcoin Legal Defense Fund (BLDF) in an email sent to members of the developer community.

“The Bitcoin community is currently the subject of multi-front litigation.

Litigation and continued threats are having their intended effect; individual defendants have chosen to capitulate in the absence of legal support.

In response, we propose a coordinated and formalized response to help defend developers.”

Dorsey says the defense fund will rely on volunteer and part-time lawyers to assist those in need with obtaining legal representation, developing defense strategies and covering their legal bills.

The co-founder of payments giant Square, which recently announced its intentions to rebrand as Block, says the BLDF will aid some of the defendants in the Tulip Trading lawsuit brought by Australian computer scientist Craig Wright.

Wright alleges that he lost billions of dollars worth of Bitcoin when the Mt. Gox cryptocurrency exchange was hacked for 800,000 BTC back in 2014.

Chaincode Labs co-founder Alex Morcos and University of Sussex computer science professor Martin White will also serve on the defense fund board along with Dorsey.

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Jack Dorsey Is Setting Up a Bitcoin Legal Defense Fund

Key Takeaways

  • Jack Dorsey has announced a Bitcoin Legal Defense Fund for Bitcoin developers.
  • Dorsey, Chaincode Labs co-founder Alex Morcos, and computer science professor Martin White will sit on the fund’s board.
  • The Bitcoin Legal Defense Fund’s first activity will be to coordinate defense against Craig Wright’s Tulip Trading Lawsuit.

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Block CEO Jack Dorsey has announced a new legal defense fund for Bitcoin developers. The fund’s first activity will be to coordinate defense against Craig Wright’s Tulip Trading Lawsuit. 

Dorsey Champions Developers

Jack Dorsey wants to help defend Bitcoin developers.

In an email sent out to the Bitcoin developer mailing list Wednesday, the former Twitter CEO detailed his plans for a non-profit Bitcoin Legal Defense Fund to help developers fight lawsuits regarding their activities in the Bitcoin ecosystem. 

“The Bitcoin community is currently the subject of multi-front litigation,” Dorsey asserted at the start of the email. He then listed the fund’s objectives and goals, explaining that it will be a free option for all Bitcoin developers to help retain legal counsel, develop litigation strategy, or pay legal bills. 

The legal defense fund will primarily be made up of volunteers and part-time layers. The organization’s board will decide where funds are allocated and which lawsuits and defendants it will help defend. Board members include Dorsey, along with Chaincode Labs co-founder Alex Morcos, and Martin White, a computer science professor at the University of Essex. 

According to the email, the fund’s first activity will be coordinating defense against Craig Wright’s Tulip Trading Lawsuit by providing funding for outside counsel. In May 2021, Wright was given the go-ahead by a London High Court to start litigation against 16 Bitcoin developers in a fight over funds from the defunct Mt. Gox exchange. The Bitcoin Legal Defense Fund appears to have adequate resources to cover the Tulip Trading Lawsuit. Dorsey stated that the fund is not looking to raise additional money for its operations at this time. 

Wright is a controversial figure in the Bitcoin community and has been embroiled in several lawsuits in recent years. He has long claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. However, the cryptocurrency community widely disputes this claim. In December, Wright lost a lawsuit against the estate of the late Dave Kleiman and was ordered to pay $100 million in damages. 

Dorsey’s new fund will help Bitcoin developers who have often capitulated to legal threats due to not having the resources to defend themselves. As Bitcoin and the wider cryptocurrency ecosystem grows, the need for legal defense funds like Dorsey’s is likely to increase.   

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Jack Dorsey Starts a New Fund to Provide Legal Defense to Bitcoin Developers

Dorsey continues to work on new bitcoin-related endeavors by launching a new fund to provide legal defense for BTC developers. Called “Bitcoin Legal Defense Fund,” its first activity will be to assist in the ongoing Tulip Trading lawsuit.

  • In an email sent to BTC developers, Dorsey described the new fund as a “nonprofit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects such as the Lightning Network, Bitcoin privacy protocols, and the like.”
  • It comes as the community has seen a growing number of “multi-front litigation and continued threats,” which drive individual defendants to capitulate in the absence of legal support.
  • The main goal of the fund is to “defend developers from lawsuits regarding their activities in the Bitcoin ecosystem.” This includes “finding and retaining defense counsel, developing litigation strategy, and paying legal bills.”
  • It’s worth noting that the Bitcoin Legal Defense Fund will be completely free and voluntary for developers if they decide to seek assistance.
  • It will have a board comprised of Dorsey, academic Martin White, and Chaincode Labs co-founder Alex Morcos, responsible for choosing the lawsuits and defendants it works with.
  • The fund has already chosen its first case as it will “take over coordination of the existing defense of the Tulip Trading lawsuit against certain developers alleging breach of fiduciary duty and provide the source of funding for outside counsel.”
  • The Tulip case is notorious in the crypto space as the self-proclaimed Satoshi Nakamoto – Craig Wright – decided to sue numerous BTC developers over an alleged hack that resulted in him losing over $4 billion worth of BTC. Wright believes the developers have to intervene and reverse the transaction.


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Why “Bitcoin Creator” Craig Wright Came Out Ahead Despite Having To Pay $100 Million

On Monday, it was determined by a Miami court that Craig Wright, the alleged creation of Bitcoin, would pay $100 million in damages to David Kleiman, Wright’s partner. The case had dragged on for about a year and finally came to an end with this judgment. This time, Wright did not appeal the judgment as the computer scientist believed it to be fair.

Furthermore, Wright said that the judgment on the part of the court solidifies his claim to be the original Bitcoin creator, which is something the computer scientist has claimed for a long time. Wright was ordered to pay the $100 million to the heirs of David Kleiman who claimed the late computer scientist’s estate was entitled to half of the 1.1 million BTC mined by Satoshi Nakamoto.

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How Wright May Have Come Out Ahead

One important tidbit, in this case, is that Wright may actually be Satoshi Nakamoto as he claims. If this is true, then the computer scientist is in possession of the 1.1 million BTC that was mined by the creator wallet after the Bitcoin blockchain was launched. The bitcoins contained in this wallet are worth an estimated $70 billion, of which Kleiman’s heirs claimed to be entitled to half of this.

With $70 billion in tow, the $100 million ordered by the courts to be paid to Kleiman’s estate is only a drop in the ocean for Craig Wright. So, in total, the entrepreneur would have come out ahead having to only pay a tiny fraction of what Kleiman would have had if his share of the BTC had been awarded to him. Wright would get to keep $70 billion all to himself.

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Kleiman who passed away in 2013 at the age of 46 was said to be close friends with Craig Wright, with whom he allegedly created Bitcoin. The Kleiman family also credits the intellectual property behind the bitcoin blockchain technology to the late computer scientist.

“Bitcoin Creator” Happy With Jury Verdict

For years, Craig Wright has been involved in lawsuits regarding his status as the creator of Bitcoin. Wright has claimed countless times that he created the digital asset but no one in the space has taken the computer scientist seriously and has been referred to as an impostor. However, the alleged Bitcoin creator claims that the jury verdict finally acknowledges him as the creator of the asset.

Related Reading | Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important

In a statement made after the trial, Wright explained that the jury has found out that he indeed created bitcoin and as such would not be appealing the judgment. He also expressed relief at the verdict, saying, “I have never been so relieved in my life.”

Although Wright continues to hold up his claim that he is Satoshi Nakamoto, he denies the claims that he and Kleiman launched the cryptocurrency together. He said the claims being made by Ira Kleiman on behalf of Dave Kleiman’s estate were false, adding that there is no paper trail that shows evidence of a partnership between them.

One thing Wright refused to admit is where the about 1.1 BTC in dispute are. The computer scientist has been careful not to mention anything regarding the bitcoin stash. Whether Wright has or ever had the bitcoins in his possession remains a mystery.

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Self-Acclaimed Bitcoin Inventor Craig Wright Vindicated in Kleiman Lawsuit

A federal jury in Miami has vindicated self-acclaimed Bitcoin (BTC) inventor Craig Wright in a lawsuit involving him and his late business partner, Dave Kleiman.

As reported by CNBC, Wright is meant to pay the sum of $100 million in compensatory damages to W&K Info Defense Research. The two men allegedly co-founded this company.

The lawsuit was filed by Dave Kleiman’s brother, Ira Kleiman who alleged that Craig Wright has usurped the majority of the intellectual property that was featured behind the early days of Blockchain technology. The funds under contention involved a 1.1 million BTC that was said to be mined by Satoshi Nakamoto, which the Kleiman estate wants a huge cut.

The jury granted the $100 million damages compensation, however, it cleared Craig Wright of all other charges, a position that the Australian entrepreneur said has shown that he is not a fraud. Wright noted that he has tried to reach a settlement with Ira Kleiman in the past, but he refused his offers.

“I feel remarkably happy and vindicated,” Wright said in the courtroom hallway after the verdict was announced. “I am not a fraud, and I never have been.” He added that he had offered Kleiman’s estate, represented by Dave’s brother Ira Kleiman, “12 million many years ago, which if he had taken that then in Bitcoin when bitcoin was $200, and he kept it – you can do the  math.”

The lawyers representing the Kleiman’s, Vel Freedman, said his team, too, was happy with the verdict: “We just won $100 million!”

Craig Wright has always maintained the stance that he is Satoshi Nakamoto, the pseudonymous developer credited to have published the Bitcoin whitepaper back in 2008. While Wright said he can prove his identity as Satoshi, many industry stakeholders have disputed the claims in part because some of the original coins attributed to early have not moved in years.

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Craig Wright Liable for $100 Million in Kleiman Case

Key Takeaways

  • Kleiman v. Wright, one of the most significant ongoing trials related to cryptocurrency, concluded today.
  • A jury in Florida found Wright liable for $100 million, to be paid to W&K Information Defense Research.
  • Wright was cleared of all other charges.

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Craig Wright has been found liable for $100 million but cleared of other charges in a case concerning his former business partner.

$100 Million Lost Is a Win for Wright

The case concerned Dave Kleiman, Wright’s business partner who passed away in 2013. Wright allegedly took Bitcoin-related assets from W&K Information Defense Research LLC, the Florida-based company created by Wright and Kleiman a decade ago.

Wright faced roughly $189 billion in damages for counts ranging from fraud and theft to a breach of fiduciary duty. Jurors cleared Wright on all charges except conversion, for which he is liable for $100 million, to be paid to W&K Information Defense Research.

Both the plaintiff’s attorneys and the defendant appear satisfied or at least are seeing the trial’s outcome with an optimistic mindset.

Kleiman estate attorney Vel Freedman said his team was “thrilled” with the $100 million sum that will be paid to W&K.

Meanwhile, Wright said he was “incredibly relieved” despite the $100 million owed, adding that the outcome is “not bad at all.” This suggests he has no plans to appeal the verdict.

The trial was carried out as Ira Kleiman, et al., v. Craig Wright in the United States District Court Southern District of Florida.

Previous Motion of Judgement Failed

Last week before closing arguments, Wright’s attorneys filed a Motion for Judgement as a Matter of Law, which is an appeal to the judge that no sufficient evidence has been provided by the plaintiff.

Wright’s lawyers argued, among other things, that the selling of Wright’s cryptocurrency could harm the market price of Bitcoin, but the judge disagreed and denied the motion. 

The Kleiman case has little relation to Wright’s dubious claim that he is the true identity behind Bitcoin creator Satoshi Nakamoto, which has been the focus of other past cases.

Disclosure: At the time of writing, the author of this piece held BTC and several other cryptocurrencies. 

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Craig Wright Owes Kleiman’s Company $100M For Conversion, Rules Jury

Craig Wright – the man who claims to be Satoshi Nakamoto (the inventor of Bitcoin) – has been found to not have had a business partnership with Dave Kleiman, a deceased Florida forensics expert. However, he still must pay $100 million in compensation for stealing Kleiman’s company in Florida.

The Ruling

The ruling for Wright’s case was revealed by CoinDesk earlier today. Apparently, the Jury chose to make Wright pay his $100 million damages in fiat currency alone, writing “0 BTC” under the line for Bitcoin damages.

Wright claimed to have been friends with Kleiman before his death in 2013, and that Kleiman had helped him edit the Bitcoin whitepaper. However, he maintained that the two were not business partners. After Kleiman’s passing, his brother brought a lawsuit against Wright on behalf of Dave’s Estate, and W&K Info Defense Research.

In this case, the Jury was required to evaluate a number of charges, including whether Wright was liable to W&K for stealing, or for fraud. While found liable for the prior, he was cleared of the other claims.

Feelings About the Verdict

Wright said he feels “remarkably happy and vindicated” with the outcome while continuing to insist that he has never been a fraud. According to him, he had offered the Kleiman estate $12 million back when Bitcoin was only $200 each. Should that money have been stored and kept in Bitcoin by Kleiman, it would be worth nearly $3 billion today.


However, the attorney for the plaintiffs – Vel Freedman – was still pleased to know they’d scored $100 million from the case. He and his fellow attorneys felt that the verdict set a positive precedent in the blockchain industry.

“Wright refused to give the Kleimans their fair share of what Dave helped create. We are immensely gratified that our client, W&K Information Defense Research LLC, has been awarded $100,000,000 reflecting Dave Kleiman’s brilliant contribution to bitcoin. “

In June, Wright also won a legal dispute against Cobra, getting to remove the Bitcoin whitepaper from their site.


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