Craig Wright's crypto wallet claim against Bitcoin SV devs back before judges
Bitcoin SV, short for"Bitcoin Satoshi Vision," was forked from Bitcoin Cash in November 2018. Bitcoin Cash in turn was forked from Bitcoin in 2017. As long ago as 2015, we reported thatTulip Trading Limited, a company associated with Dr Craig Wright, claims to be the owner of some bitcoin with a very high total value . The bitcoin is held at two addresses on the blockchain called 1Feex and 12ib7.
However the private keys have been lost in a hack, likely stolen. Without its private keys Tulip cannot access its assets or move them to safety. However, Tulip contends, the developers named as defendants in this case control and run the four relevant bitcoin networks, and it would be a simple matter for them to secure Tulip's assets, e.g. by moving them to another address which Tulip can control.
Tulip contends that the role the developers have undertaken in relation to Tulip's property and the power this role gives them, and all the circumstances , mean that the developers should be recognised as a newclass of fiduciary, owing fiduciary duties to the true owners of bitcoin cryptocurrency, including in this case Tulip as true owner of the bitcoin at 1Feex and 12ib7.
The developers deny they owe fiduciary or any other duties to Tulip. They contend that they have"nothing like the power or control Tulip alleges and that duties of the kind Tulip contend for would be highly onerous and unworkable."
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