Faketoshi: Craig Wright will have to transfer half a million BTC
Faketoshi: Craig Wright will have to transfer half a million BTC
Bitcoin

Faketoshi: Craig Wright will have to transfer half a million BTC

By Marco Cavicchioli - 27 Aug 2019

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Judge Bruce Reinhart found Ira Kleiman to be right in the so-called Faketoshi case, forcing Craig Wright to pay him half of the bitcoins (BTC) mined by Satoshi Nakamoto. 

It all started directly with Satoshi Nakamoto himself, whose identity is still unknown. Satoshi disappeared completely in 2011, but in the meantime, he had mined 1.1 million BTC that he had put in the so-called “Tulip Trust“. This trust was managed by Satoshi Nakamoto, Dave Kleiman and Craig Wright. 

Dave Kleiman died in 2013, so once Satoshi disappeared and Kleiman died, Wright would have to recover the 1.1 million BTC mined by Satoshi. 

However, Dave Kleiman’s brother Ira sued Craig Wright for 50% of those bitcoins. Wright tried to defend himself by claiming to be actually Satoshi Nakamoto, the real owner of the BTC in the Tulip Trust, but the judge found him wrong. 

As a result, Wright will have to give Kleiman’s brother half of the Tulip Trust’s bitcoins, amounting to more than $5 billion. 

The confirmation came from an interview given by the same Craig Wright, also known as “Faketoshi” due to the fact that he attempted to pose as Satoshi. 

The judge of the United States District Court for the southern district of Florida has established that Satoshi Nakamoto is actually an association of three people, one of whom is missing and unknown, and the other deceased, but with heirs. This means that half of the 1.1 million BTC mined are the property of Craig Wright and the other half of Ira Kleiman, the rightful heir of Dave. 

“The judge ordered me to send just under 500,000 BTC over to Ira”.

As a result, the two will share the bitcoins that have so far been kept in the Tulip Trust. 

Now the question is: once Ira Kleiman and Craig Wright have gained possession of that immense fortune in BTC, what will they do with it? If they decide to sell most of them, this could most likely have an impact on the price of bitcoin. 

Wright claims he won’t sell and says Kleiman should pay inheritance tax, which is 40% of the inherited amount, or about $2 billion. 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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