Satoshi Nakamoto, the mysterious creator of Bitcoin owns approximately 5% of the total Bitcoin supply to ever be mined, 1.1M Bitcoins. Their identity remains a mystery, which might be in the best interest of the digital asset itself.
A “Faketoshi” appeared on the scene last year with the BSV (Bitcoin Satoshi Vision) fork, Mr Craig Steven Wright. The Australian computer scientist decided to reveal to the world that he one of the men responsible for Bitcoin.
This brought him a lot of media attention and heat from the crypto-community. David Kleiman, a computer forensics expert that passed away in 2013 had allegedly helped Wright in the creation of Bitcoin. As a “co-creator” his family estate claim that he was entitled to 50% of Satoshi’s Bitcoin holdings, worth billions of dollars. They are accusing Wright of having “concocted a scheme to claim ownership of all bitcoins owned by Dave” by falsifying papers. While this probably is a new “serial-liar” scheme, the judge took the fact that Wright is Satoshi at face value to proceed with a ruling.
In mid-2019, the court ruled in Kleiman’s favour and ordered Wright to hand over 50% of the funds. This is where Wright explained that the coins were actually moved to cryptographically secured blind trusts named Tulip Trust I and Tulip Trust II which he could not access “yet”.
According to Wright, the necessary keys to decrypt the files would be couriered to him in January 2020. As a consequence, the judge gave Wright until the 3rd of February 2020 to produce the evidence and transfer the funds.
When January came, Wright announced a third trust; Tulip Trust III. When asked how he produced the documentation for it he used attorney-client and spousal privileges to avoid sharing details.
Judge Reinhart stated: “Particularly given my prior finding that Dr. Wright has produced forged documents in this litigation, I decline to rely on this kind of document, which could easily have been generated by anyone with word processing software and a pen […] I give no weight to sworn statements of Dr. Wright that advance his interests but that have not been challenged by cross-examination and for which I cannot make a credibility determination. I have previously found that Dr. Wright gave perjured testimony in my presence.”
As a result, Wright’s objections were overruled and he must produce the verified documentation by March 12th 2020 at 5:00PM (EST).