The self-proclaimed bitcoin creator lost the case in the Kleiman Estate lawsuit

Craig Wright will pay $100 million in compensation

07.12.2021 - 13:15

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What’s new? On December 6, a Miami court ruled in the case of Craig Wright, who claims to be the creator of bitcoin. The jury ordered him to pay $100 million in compensation to the brother of another deceased bitcoin developer, Ira Kleiman.

The court ruling

What is the essence of the trial? Ira Kleiman, the brother of Dave Kleiman, one of the alleged bitcoin creators, sued Craig Wright, another developer. Dave himself died in a car accident in 2013. Ira claimed in his lawsuit that Craig owed Dave 1,1 million BTC. During the case, Wright admitted that he and Dave were involved in the creation of bitcoin together. However, he also argued that Kleiman's involvement was not significant enough to call him a partner.

What did the court rule? The jury decided that Dave had no rights to the cryptocurrency and dismissed the charges against him. But during the trial, it emerged that Wright and Kleiman had a joint company, W&K Info Defense Research. The jury ruled that Wright had misappropriated bitcoins belonging to the company and ordered the defendant to pay Ira Kleiman $100 million in compensation.

How did Wright comment on the ruling? Despite the $100 million compensation, Craig was pleased with the decision and “felt relieved.” Ira had originally claimed $3,2 billion in compensation. Craig Wright may be appealing the court's ruling.

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