Craig Wright, the individual that claims to be Satoshi Nakamoto, seems to be planning to initiate legal action against a number of open-source blockchain developers. Wrightâ€™s legal team, Ontier LLP, has allegedly sent letters to programmers who work on blockchains like Bitcoin, Bitcoin Cash, and Bitcoinsv as well. The self-styled Bitcoin inventorâ€™s legal action letters claim 111,000 bitcoin was stolen from his â€œcomputer networkâ€ back in February 2020.
The So-Called Fiduciary Duty: Regaining Access to the Alleged Stolen Keys
The Australian businessman who has claimed to be Satoshi Nakamoto for years now, has announced he may be initiating legal action against open source developers. Despite the fact that many experts, the media, and the greater crypto community believe Wrightâ€™s Satoshi Nakamoto claims are false, Wright has continued to stand behind his word.
Recently, Wrightâ€™s legal team has asked a few websites like bitcoin.org to remove the white paper from the domain over ostensible copyright claims. Now reports disclose that Wright has begun his next form of legal action. Coingeek contributor, Jordan Atkins, explains that Wright had the private keys from two bitcoin addresses stolen in a hack.
Atkins and the letter from Ontier LLP, say that back in June 2020, Wright sent letters to developers who work on BTC, and other public blockchains. Wright and his legal team seem to believe that incumbent Bitcoin network developers are legally responsible to â€œavoid illegitimate transactions being entered onto the blockchain.â€
Ontierâ€™s letter shows two addresses and one address contains 79,957.20 BTC while the other address contains 31,000 BTC. Both addresses still have all the coins sitting idle and the corresponding BCH and BSV tokens remain intact as well. The address with the 79k BTC has never spent a satoshi since it was created ten years ago. The address with 31,000 BTC had spent 21,700 coins during the walletâ€™s 11-year lifespan.
Allegedly Ontierâ€™s letters were sent in June, and the latest notice says â€œwe have had no responses to the important matters set out in our 12 June Letter.â€ The legal team said it had noticed extracts of the letter were published online. Ontierâ€™s letter is also written on behalf of a company called â€œTulip Trading Ltd,â€ (TTL) and it claims Wright held the keys for TTL.
â€œUnknown hackers stole the private keys for the addresses and deleted copies of the keys on Dr Craig Wrightâ€™s computer,â€ the Ontier notice details. â€œPreventing him from accessing the digital assets at those addresses, which he operated on behalf of TTL. Accordingly, TTL is (absent steps being taken by the developers) unable to access or control digital assets that are TTLâ€™s legal property,â€ the letter adds.
It continues to inform the developers the written correspondence is simply a â€œletter before actionâ€ and if there is no response â€œlegal action may be taken.â€
â€œWe recommend that you seek urgent legal advice,â€ the letter further stresses.
The â€˜1FeeXâ€™ Address Mt Gox Mystery and a â€˜Steaming Pile of Horse Puckeyâ€™
Back in June, when the original letters were sent out, the publication Coingeek wrote about the alleged hack and the author claimed it would be â€œmore complex [than the] Kleiman vs. Wright lawsuit in Florida.â€ Essentially, the latest round of letters asks the developers to allow Wright to regain access to the alleged stolen keys. The notices also note that the developers have â€œlegal duties under English lawâ€ because they have â€œhigh level of power and control.â€
The Ontier notice further reveals that TTL and Wrightâ€™s argument will rely on tortious and fiduciary duties. Wright is also claiming ownership over the corresponding bitcoin cash (BCH) and bitcoinsv (BSV) that are tethered to these two addresses.
Whatâ€™s interesting about one of the addresses mentioned in the letter, is that it is said to have connections to the Mt Gox hack. After the news of Ontierâ€™s letters being sent out to developers in February, Moneroâ€™s Riccardo Spagni tweeted about the conflict of interest with the specific address connected to the now-defunct exchange. Spagni also referenced the conflict of interest with the address dubbed â€œ1FeeXâ€ on June 12, 2020.
On February 24, 2021, Spagni said:
The attorney Stephen Palley, who often speaks on bitcoin and blockchain legal matters, also spoke about Ontierâ€™s letters and Wrightâ€™s latest claims on Twitter.
â€œCraig Wrightâ€™s English lawyersâ€™ threat to sue bitcoin developers is a steaming pile of horse puckey,â€ Palley tweeted. â€œItâ€™s not winnable. In the U.S. you might get sanctioned for this malarkey,â€ he added.
What do you think about Craig Wrightâ€™s recent claims and the letters from Ontier LLP? Let us know what you think about this subject in the comments section below.
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