Craig Wright Awarded £1 for the Defamation Lawsuit Against Peter McCormack

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Craig Wright – the self-pro­claimed Bit­coin inven­tor Satoshi Nakamo­to – only received  £1 as the result of the defam­a­to­ry case against cryp­to pod­cast­er Peter McCor­ma­ck, a well-known Bit­coin pro­po­nent who had called the com­put­er sci­en­tist a liar on mul­ti­ple occasions.

U.K. High Court Judge Mar­tin Cham­ber­lain ruled in favor of Wright, stat­ing that the cryp­to influencer’s words had caused “seri­ous dam­age” to the claimant’s rep­u­ta­tion. How­ev­er, the judge also point­ed out that Wright had used delib­er­ate­ly false evi­dence to sup­port his claim.

McCormack “Very Pleased” With The Ruling

Craig Wright sued in libel over 14 tweets pub­lished and words spo­ken by the high-pro­file influ­encer Peter McCor­ma­ck, ask­ing for $12,200 as com­pen­sa­tion for dam­ages to his rep­u­ta­tion. The Aus­tralian com­put­er sci­en­tist attrib­uted his finan­cial loss­es to which he did not get invit­ed to con­fer­ences and events due to his name being tarnished.

The case cen­ters on McCor­ma­ck reject­ing Wright’s claim that he is Satoshi Nakamo­to between March and Octo­ber 2019, in which the pod­cast­er and YouTu­ber referred to Wright as a liar, a moron, and a fraud on social media plat­forms, accord­ing to the press sum­ma­ry pub­lished on Monday.

It’s worth not­ing that Binance CEO CZ Zhao stood on the side of McCor­ma­ck in 2019, sup­port­ing the notion that Wright isn’t Satoshi and call­ing him “a fraud” as well. In addi­tion, the Binance boss viewed Wright as a “poi­son” of Bit­coin SV (BSV), a hard folk from the Wright-spear­head­ed Bit­coin Cash (BSH).

Despite rul­ing McCormack’s pub­li­ca­tions as “defam­a­to­ry,” thus caus­ing “seri­ous harm to the rep­u­ta­tion of Dr. Wright,” the judge not­ed that Wright had “advanced a delib­er­ate­ly false case and put for­ward delib­er­ate­ly
false evi­dence until days before tri­al.” For that, the claimant will only recov­er sym­bol­ic nom­i­nal dam­ages as lit­tle as £1.

After the news broke, McCor­ma­ck tweet­ed that he is “very pleased” with the result but will not com­ment fur­ther on the case.

Pao­lo Ardoino, CTO of Bitfinex and Teth­er, joked that the amount of mon­ey Wright receives is not even enough to buy a Star­bucks coffee.

Wright is no stranger to launch­ing legal action against indus­try pro­po­nents who called him “a fraud” for claim­ing he is the real Satoshi. In 2020, his lawyers sent a let­ter to the Ethereum cofounder Vitalk But­terin, ask­ing him to retract his com­ments cast­ing doubts on his iden­ti­ty as the Bit­coin inven­tor in a con­fer­ence in Seoul by 2018. After Buterin ignored the let­ter, Wright dropped the libel law­suit with­out push­ing it further.

Speak­ing on the Lex Frid­man Pod­cast, Buterin said Wright’s claim was sim­ply a “mar­ket­ing strat­e­gy,” adding that the Bit­coin SV sup­port­er had a demon­strat­ed his­to­ry of say­ing tech­ni­cal­ly wrong things, which fur­ther dis­ap­proved of his iden­ti­ty as Satoshi Nakamo­to. He even com­pared Wright to Don­ald Trump, stat­ing the man was good at pro­vok­ing people’s resent­ment in the wake of the block size war.

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