Craig Wright’s tulip trade must prove Bitcoin ownership in hacking case, English court rules

Craig Wright’s Tulip Trading must prove ownership of some 110,000 bitcoins (BTC) that are at the center of a case against a group of bitcoin developers filed in 2021, an English court document shows.

In that case, the developers are fighting Tulip’s lawsuit alleging that they unfairly refused to help Wright’s company recover billions of dollars in bitcoin it allegedly lost in a hack. In a preliminary trial, the court will seek to determine whether Tulip owns the bitcoin, according to an order from the High Court of England and Wales published on the Bitcoin Legal Defense Fund website. The order is dated November 15.

Wright, who has long claimed to be bitcoin creator Satoshi Nakamoto, a claim that was long met with widespread skepticism, sued the developers for refusing to build a backdoor mechanism to help Tulip Trading recover. the coins he claimed to have owned and lost. The case was originally dismissed in March 2022, but reinstated on appeal.

The preliminary trial, which will last 15 days, will also seek to determine whether the alleged hack occurred and, if so, whether it deprived Tulip Trading of the private keys that controlled the bitcoin, among other issues.

The Bitcoin Legal Defense Fund is an organization funded by, among others, Jack Dorsey, the founder of Twitter (now X), Bluesky, and Block (formerly Square).

CoinDesk contacted Tulip’s law firm, Shoosmith, for comment. Enyo Law, which represents the majority of the defendants, said documents related to the case could be recovered from the Bitcoin Legal Defense Fund website.

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