In a recent court ruling, Craig Wright lost his attempt to secure more than nominal damages in a libel suit against fellow bitcoin enthusiast and podcaster, Peter McCormack. The case revolves around Wright’s assertions of being the elusive Bitcoin inventor, Satoshi Nakamoto. The London Court of Appeal unanimously decided that the mere offering of 1 British pound (equivalent to $1.29) in compensation to Wright is justified, given the circumstances of the case.
Three judges agreed on the verdict that the High Court Judge Martin Chamberlain was just in his decision to consider Wright’s fabrication and fraudulent actions as pertinent factors in court deliberations. Lord Justice Mark Warby explained that, in this context where accusations of dishonesty are central to the libel, the court should indeed regard Wright’s deceitful proceedings.
Following the judgment, Wright expressed his disappointment, stating that the court failed to acknowledge the harm caused by the “orchestrated online vitriol” that has severely affected his mental wellbeing. McComack, meanwhile, reaffirmed his commitment to provide support for “others caught up in this,” like Twitter user Hodlonaut who has also faced a libel lawsuit from Wright.
Earlier in October 2021, Chamberlain found McCormack unable to validate his claims of Wright being fraudulent. Still, Wright was awarded only symbolic damages due to his willful submission of false evidence. Further complicating matters, McCormack was later tasked with covering around 900,000 pounds in legal costs.
In another lawsuit this week, UK judges decreed that Wright must secure 400,000 pounds for legal costs to advance his allegation that crypto exchanges Kraken and Coinbase are infringing his intellectual property by permitting trading in Bitcoin and Bitcoin Cash.
Marking another day in court, Wright faces a Florida courtroom deliberation over allegations of contempt in a hefty $143 million dispute with former business associate Ira Kleiman, which Wright denies fiercely. With these events unfolding, it appears that the courtroom is becoming a recurrent battleground to resolve crypto-related disputes, raising yet unanswered questions about the need for stringent regulations.
Source: Coindesk
