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HomeBTCSelf-proclaimed Bitcoin creator Craig Wright sues Coinbase and Kraken over misrepresentation of...

Self-proclaimed Bitcoin creator Craig Wright sues Coinbase and Kraken over misrepresentation of Bitcoin

Craig Wright filed a lawsuit against Kraken and Coinbase for allegedly violating his copyright and denying that he is Satoshi Nakamoto.

Self-proclaimed Bitcoin creator Craig Wright, a computer scientist, is suing anyone who disputes his claims. Wright believes that Coinbase and Kraken, as well as other unnamed exchanges, have been “passing off” BTC as the actual thing. Wright claims that the actual Bitcoin is distinct from the protocol which was invented in 2009. He remarks that the genuine Bitcoin is Bitcoin Satoshi Vision (BSV), which adheres to the original protocol .

“The claimants assert that these exchanges, and others, have been trading – and encouraging investors and consumers to trade and invest – in BTC, by passing off that asset as Bitcoin.”

According to Wright’s lawsuit, the misrepresentations of Bitcoin done by Coinbase and Kraken continue to deceive crypto investors who are uncertain of the “authenticity” of the assets. Wright is expecting to get an order from the court to stop Coinbase and Kraken from misleading investors by “improperly using” signs or words to market BTC as Bitcoin. 

According to Wright’s legal team, more filings against big exchanges are in the process. They claim that action is essential “to prevent future misconceptions as to the true operational nature of Bitcoin.” 

Wright’s legal team remarked: 

“This litigation is the latest in a series of legal claims issued by ONTIER LLP on behalf of Dr. Wright and his associated entities to uphold his right to protect his lawfully-held digital assets, his reputation as the creator of Bitcoin and his associated intellectual property…”

Based on Wright’s earnings, his legal team claims the lawsuit is worth several billions of pounds. The case was filed on April 29, 2022, and it will be tried in the English and Welsh Business and Property Courts. This court deals with specialised corporate and international legal problems, particularly intellectual property conflicts.

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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