Alleged Bitcoin creator Craig Wright

Alleged Bitcoin creator Craig Wright: crypto fund gives update on lawsuit

A crypto fund says: „All evidence points to Craig Wright being the creator of Bitcoin. The is in turn suing payments giant Square and other influential Bitcoin and Bitcoin Cash companies.
BSV fund backs Wright

In a document, crypto fund Unbounded Capital has shared details of the ongoing legal battle Crypto Wealth between alleged Bitcoin creator Craig Wright and various Bitcoin-related companies.

The firm invests exclusively in companies and products related to Bitcoin Satoshi Vision (BSV), the Bitcoin fork represented by Wright and billionaire businessman Calvin Ayre. It is run by Zach Resnick and is a vocal supporter of BSV – he refers to it as Bitcoin instead of Bitcoin „Satoshi Vision“ on his website.

Wright has sued, and for illegally hosting the Bitcoin whitepaper on their sites – claiming that it is his property and that this both infringes copyright and „passes off“ BTC and BCH as the real Bitcoin (Go to Buy Bitcoin at eToro guide).

Unbounded says it is „not surprised“ by the development. „We believe CSW is the inventor of Bitcoin and rightfully holds the copyright to the Bitcoin whitepaper as well as other Bitcoin-related IP.“

„As such, we expected that CSW would continue to pursue all legal avenues to defend its name and invention,“ the crypto fund said.

The fund supports Wright’s lawsuit, according to which forks of Bitcoin, such as BTC and BCH, seek to exploit the value of the Bitcoin name „despite having deviated from Bitcoin technology as envisioned by CSW in the whitepaper, while denigrating the only version of Bitcoin that still implements that original vision today as BSV.“

The Bitcoin battle

The legal notices told the parties they had two weeks to comply. The deadline for the three to respond was February 3, at 11am EST, while Square, the payments giant, had until February 4 at 11am EST.

Since they have not yet responded, the penalty is as follows:

„If you fail to do so (comply by the specified date), we are directed to commence proceedings without further notice seeking injunctive relief and appropriate monetary compensation for your infringement of the copyright in the White Paper.“

This includes additional damages payable as the infringements are deemed „willful and brazen“, costs, and the posting of appropriate notices on your website and advertisements about the outcome of the action.

Meanwhile, Unbounded clarifies that Wright’s lawsuit does not seek to remove the Bitcoin white paper from the open internet.