Craig Wright, the self-proclaimed Satoshi Nakamoto, has sued crypto exchanges Kraken and Coinbase for alleged copyright infringement. Based on the case filed by Wright, he accused the two crypto exchanges of intellectual property rights for using the term ‘Bitcoin.’
Wright Is Asking For A £500 Billion As Compensation
According to the lawsuit, Wright is asking for compensation of £500 billion from the accused parties. According to the computer scientist, the niche Bitcoin fork BSV is the only real Bitcoin and any other party that uses the name violates intellectual property rights.
Wrights said that both Coinbase and Kraken have misled investors by using the Bitcoin name to market their cryptocurrencies. This is coming as speculation about the identity of the mysterious Satoshi Nakamoto, the alleged developer of Bitcoin.
Craig Wright has repeatedly asserted that he is the Bitcoin founder. He has also been on the receiving end of several lawsuits for such claims, with some of the cases still in the court.
Write has also filed a lawsuit against some notable figures within the crypto community as part of a legal campaign. Wright has also sued Vitalik Buterin in 2019 for claiming he lied about inventing Bitcoin. But he later dropped the lawsuit.
As of press time, neither Kraken nor Coinbase has made any comment regarding the lawsuit filed against them.
Wright Still Claims To Be Bitcoin Founder
Last year, Wright won a case against Cobra, the pseudonymous Bitcoin.org creator, as the court ordered the website to take down the Bitcoin whitepaper on the site. However, the decision was a default judgment following Cobra’s decision not to defend the case, failing to appear in court.
The court ordered Bitcoin.org to pay Wright £35,000 to cover his legal costs. Cobra was also ordered to take down the whitepaper and display a court order notice for six months.
In response to the case, Cobra tweeted last month saying “defending against nonsense is a waste of time.”
The latest intellectual property claim against Kraken and Coinbase was issued by ONTIER LLP. The claim stated that the misrepresentation by the two exchanges has resulted in confusion among traders on the authenticity of the crypto assets they transacted on these platforms.