‘Bitcoin Inventor’ Craig Wright Returns to Court for $10 Billion Lawsuit

bitcoin inventor craig wright lawsuit
Self-proclaimed bitcoin inventor Craig Wright is being sued for $10 billion by the estate of deceased computer whiz Dave Kleiman. (screenshot)

Self-proclaimed bitcoin inventor Craig Wright will make his next court appearance in Florida on August 7.

That’s six weeks after he first appeared in a West Palm Beach court for a deposition related to the $10 billion bitcoin lawsuit filed against him by the estate of deceased computer genius Dave Kleiman.

Craig Wright Next Court Date In $10B Bitcoin Lawsuit Is August 7
Self-proclaimed bitcoin inventor Craig Wright next appears in Florida federal court on August 7 at 9:30 am ET.

Craig Wright cried in court last month

When Wright appeared in court on June 28, witnesses said the self-proclaimed Satoshi Nakamoto cried during emotional testimony.

According to transcripts, Wright lamented that “his” invention was being used for criminal activity such as money-laundering, drug sales, and child pornography. And that’s why he claims he’s so heartbroken and has distanced himself from the original cryptocurrency.

Wright said: “I set up bitcoin to be honest money. I set up bitcoin to fix the problems of every other digital cash that had been. Every single other one fell to crime. I thought I would set up the world’s first digital cash that would not fall to crime.”

Wright says he will take receivership of bitcoin stash in January 2020

Many also pointed out that Wright told Judge Bruce Reinhart that he cannot access the enormous bitcoin trove that he and his former colleague mined together.

Wright claims this is because the holdings are being held in a blind trust, and he doesn’t have all the requisite keys to access them right now.

However, Wright says the entire 1.1 million in bitcoin “will be returned” to him on January 1, 2020. Using today’s bitcoin price, those holdings are worth more than $12 billion.

bitcoin inventor craig wright kleiman lawsuit exhibit
Craig Wright claims that he will take receivership of 1.1 million bitcoin (valued at $12 billion) on January 1, 2020.

Kleiman’s estate wants half the bitcoin trove worth $5 billion

This lawsuit is still in its early stages, but it’s definitely starting to heat up.

It began in February 2018, when the estate of Dave Kleiman filed a $10 billion federal lawsuit against Craig Wright.

In their complaint, the estate accused Wright of stealing the intellectual property and the bitcoin stash that he and Kleiman had mined together before Kleiman died in 2013.

Wright and Kleiman began working on bitcoin back in 2008 — before anyone knew what it was. Together, they mined 1.1 million bitcoin, according to the lawsuit.

The estate claims that Wright faked signatures on legal documents to steal Kleiman’s share of the bitcoin stash and the intellectual property the two collaborated on before he died.

Dave Kleiman’s estate claims Craig Wright faked Kleiman’s signatures to take unlawful possession of his bitcoin stash and intellectual property.

Lawsuit: Craig Wright or Dave Kleiman could have invented bitcoin

Interestingly, in their lawsuit, the estate admits that it’s possible that either Craig Wright or Dave Kleiman is Satoshi Nakamoto:

“It is unclear whether Craig, Dave, and/or both created Bitcoin…It is undeniable, however, that Craig and Dave were involved in Bitcoin from its inception and that they both accumulated a vast wealth of bitcoins from 2009 through 2013.”

Given how unpredictable the world of crypto is, anything is possible at this point.

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