On August 21, a court in the United Kingdom heard from lawyers representing 12 developers who are pushing back against a lawsuit filed by Tulip Trading (TTL). According to the developers, TTL never actually owned the 111,000 BTC it is trying to claim. The court filing alleges that TTL has fabricated documents in an attempt to prove ownership and fraudulently gain control over the assets. The developers argue that TTL’s claim is fraudulent and based on fabricated evidence.
The Bitcoin Legal Defense Fund, which is backed by Jack Dorsey and others, shared the court filing. The document also highlights Craig Wright’s history of dishonesty and fabrication of evidence in legal proceedings. Wright, who famously claimed to be the creator of Bitcoin, Satoshi Nakamoto, has faced widespread refutation of his claim within the industry. Timothy Elliss, a partner at Enyo Law, stated that Tulip Trading has knowingly commenced the assertion fraudulently, as it has no legitimate claim to the Bitcoin, which is valued at $2.9 billion.
The court filing also raises doubts about whether Craig Wright or his company ever owned the wallets that held the disputed Bitcoins. Wright is currently involved in multiple lawsuits, and this latest case adds to his legal troubles. The developers argue that there is a compelling case to consider the claim fraudulent and that the question of ownership should be determined in a preliminary trial.
This is not the first time Craig Wright has faced legal challenges. In February, his firm alleged that developers owed fiduciary duties to police and control the Bitcoin network. In October, Wright lost a lawsuit against Bitcoiner Hodlonaut and was ordered to pay $383,000 in fees and expenses. Whistleblower Edward Snowden has also called out Wright as a fraud. In July, a UK court ruled that Wright must pay $516,000 to proceed with another lawsuit against Coinbase and Kraken.
The battle over the ownership of the 111,000 BTC continues, with Bitcoin developers firmly pushing back against Tulip Trading’s claims. As the case unfolds, it remains to be seen how the court will rule and what impact it may have on Craig Wright’s credibility within the cryptocurrency community.
