Crypto: London Bitcoin Fraud Trail Due To Reach Conclusion

March 12, 2024

The London Bitcoin trial nears its conclusion, with a senior barrister informing the High Court today of Craig Wright’s alleged attempt at “severe fraud upon the court.”

The closing arguments of the case, aiming to determine if Australian computer scientist Dr Craig Wright is the actual creator of Bitcoin, commenced on Tuesday. The trial began five weeks ago, prompted by the court’s need to ascertain Wright’s claim as the originator of Bitcoin under the pseudonym Satoshi Nakamoto.

The trial involves two cases: firstly, the Crypto Open Patent Alliance (COPA), a non-profit dedicated to keeping cryptocurrency technology patent-free, suing Wright for his assertion of being Bitcoin’s creator. Secondly, Wright is suing 26 blockchain developers to assert copyrights over the Bitcoin white paper and database rights over the entire blockchain.

During today’s proceedings, Hough KC, representing COPA, outlined his closing arguments, alleging that Wright engaged in extensive deception and forgery throughout the trial. He noted that Wright persistently fabricated documents, blamed others, and concocted elaborate excuses, even defaming and attacking his expert witnesses and legal representatives.

Hough KC emphasized the gravity of Wright’s actions, stating that they amounted to a “severe fraud upon the court.” He further mentioned COPA’s intention to request referral of the case papers to the Director of Public Prosecutions for consideration of prosecution for perjury and perverting the course of justice.

Closing arguments commenced today, with Wright expected to present his case on Wednesday and Thursday, concluding the entire trial on Friday.

With Bitcoin’s price skyrocketing at the moment, it remains to be seen if this will impact the market in any way, but all signs are still very bullish despite this news.