• A federal judge has ordered Bitcoin’s “inventor” to pay an additional $43 million

  • A federal judge has determined that Craig Wright, the self-proclaimed Bitcoin developer, must pay an additional $43 million to the joint venture he co-founded, in addition to the $100 million he paid last year.

    After a jury determined that Wright illegally misappropriated intellectual property belonging to a joint venture with W&K Info Defense Research, he was sentenced to pay the additional money as interest on damages.

    Wright, on the other hand, feels that the interest should have been charged only between October and December 2021, when the IP’s value was at its height.

    The verdict by Florida District Judge Beth Bloom was seen as a win by both parties.

    Wright’s attorney, Andrés Rivero, stated that the award was “just a fraction of the amount plaintiffs demanded.” He also stated that the jury’s decision that Kleiman was not a co-inventor of Bitcoin with Wright was unaffected.

    W&K’s attorneys, on the other hand, stated in a statement that the additional amount, like the original premise, “sets a historical precedent in cryptocurrencies and blockchain.”

    Wright had illegally taken intellectual property.

    Late last year, a jury determined that Wright illegally took intellectual property belonging to a joint firm he created with late computer forensics specialist Dave Kleiman.

    Kleiman’s brother sued Wright on behalf of the estate in 2018, alleging him of stealing 1.1 million Bitcoin as well as the intellectual property.

    While juries awarded W&K $100 million for Wright’s theft and fraud, he was cleared of theft and fraud.

    Furthermore, W&K and Kleiman had no legal claim to the Bitcoin in question. Court documents revealed that the Bitcoin was mined by Satoshi Nakamoto, the author of its whitepaper and inventor, whom Wright has repeatedly claimed to be.

    While Kleiman stated the assets were worth more than $11 billion, in today’s money, 1.1 million Bitcoin is worth around $43 billion.

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