Home / Headlines / Headlines Opinion / Craig Wright to Challenge Court Ruling in $10 Billion Bitcoin Lawsuit

Craig Wright to Challenge Court Ruling in $10 Billion Bitcoin Lawsuit

Last Updated March 4, 2021 2:39 PM
Samantha Chang
Last Updated March 4, 2021 2:39 PM

Self-proclaimed bitcoin inventor Craig Wright plans to challenge the recent ruling against him in the $10 billion lawsuit filed by the estate of Dave Kleiman.

In court papers  filed Aug. 30, Wright asked district judge Beth Bloom for a 14-day deadline extension to challenge magistrate judge Bruce Reinhart’s prior ruling.

Craig Wright granted deadline extension

In his order, Judge Reinhart struck down a number of key affirmative defenses that Wright could use. If that ruling remains unchallenged, it’d be almost impossible for Wright to defend himself.

CCN.com contacted Wright on Aug. 31 to ask how confident he is that he can overturn Reinhart’s ruling.

Wright told CCN.com that “sadly, I am not permitted to talk about” the specifics of the case. That’s standard for anyone involved in a lawsuit, especially since he hasn’t filed the motion yet.

However, CCN.com noted that Wright was polite and patient in his responses to multiple questions. In other words, his demeanor did not strike one as that of a man who’s terrified of losing billions.

Craig Wright is being sued by the estate of his late business partner, Dave Kleiman, for 50% of the alleged 1.1 million bitcoin the two had mined. | Source: YouTube screenshots

Wright’s lawyers need extra time because of Hurricane Dorian

In their Aug. 30 court papers (see below), Wright’s Florida-based attorneys argued that they need extra time to prepare because Hurricane Dorian is set to batter Florida over the next few days.

The motion reads: “Hurricane Dorian is expected to make landfall in Florida early next week. And counsel for Dr. Wright have been expending significant time preparing for the hurricane, which has limited their ability to work on this matter.”

The Plaintiff (Dave’s brother Ira Kleiman) did not contest the motion. Judge Beth Bloom granted the extension, so the deadline was moved to Sept. 24.

craig wright challenges reinhart ruling
Craig Wright’s request for a deadline extension to challenge a recent ruling was granted. | Source: CourtListener

Judge: Wright lied and forged documents

Meanwhile, the sensational $10 billion lawsuit has caught the attention of mainstream media around the world.

At issue is whether Craig Wright must turn over half of the 1.1 million bitcoin he and his late business partner Dave Kleiman allegedly mined from 2009 to 2011. At the time, Wright and Kleiman worked together at W&K Info Defense Research.

W&K was the Florida-based company that Wright and Kleiman collaborated on before Kleiman died in 2013.

According to the February 2018 lawsuit  filed against Wright by Dave’s brother, Ira Kleiman, Dave owned 50% to 100% of W&K.

During their collaboration that started in 2008, the two friends allegedly created bitcoin and mined 1.1 million bitcoin, according to the Kleiman lawsuit. Using today’s bitcoin price, that stash is worth more than $10 billion.

Wright did not share that massive bitcoin fortune with Kleiman’s estate after he died, according to the lawsuit.

Wright has an uphill battle. Both judges who have heard parts of this case say Wright has committed perjury and falsified documents to hide his bitcoin trove.

Meanwhile, Wright maintains that he is Satoshi Nakamoto. That said, does it really matter who Satoshi is?