- Craig Wright loses libel case.
- The court reduced damages to a nominal £1, undermining his credibility.
- The ruling raise doubts about his self-proclaimed identity as Satoshi Nakamoto.
In a significant ruling, Craig Wright has lost the libel case he filed against Peter McCormack over the contentious issue of his claims to be the inventor of Bitcoin. Craig Wright has long-standing asserted that he is Satoshi Nakamoto, the enigmatic creator of the world’s first cryptocurrency, Bitcoin.
The libel case revolved around tweets made by Peter McCormack, which challenged Wright’s self-proclaimed identity as Satoshi Nakamoto. He labeled him as a fraud. Wright accused McCormack of damaging his reputation through these tweets. All this led to a legal battle that captured widespread attention in the crypto community.
Initially, the court found McCormack’s comments to be defamatory. Later given Wright’s conduct during the proceedings and the lack of substantial evidence to support his claims, the damages were reduced to a mere symbolic £1. The court’s decision highlighted the lack of credibility in Wright’s assertions. It also highlighted his failure to provide conclusive proof of being the elusive Bitcoin creator.
The ruling in this appeal case upholds the original verdict and further diminishes Craig Wright’s credibility in his claim of being Satoshi Nakamoto. The lack of concrete evidence and the court’s refusal to award substantial damages indicate the skepticism surrounding Wright’s assertions.
This verdict could have significant implications for Craig Wright and his continued claims of being the inventor of Bitcoin. The ruling might further erode his credibility and diminish his standing in the crypto community. It may also discourage other legal actions he pursues against those who challenge his identity as Satoshi Nakamoto.
Notably, this is not the only legal battle involving Craig Wright and his claims. He has been involved in other lawsuits, including one against Magnus Granath, which also brought his credibility into question.
In response to the appeal verdict, Peter McCormack expressed his satisfaction, posting on Twitter
The court’s ruling in the libel case between Craig Wright and Peter McCormack has dealt a significant blow to Wright’s claims of being Satoshi Nakamoto. The lack of substantial evidence, combined with his conduct during the legal proceedings, has led to a reduced damages award. The ruling further questions about his credibility.