The man who falsely claimed to have created Bitcoin, Craig Wright, has officially received a one-year prison sentence. Indeed, he was sentenced in contempt of court after he filed a $1.2 trillion lawsuit against Twitter founder Jack Dorsey’s new company, Block.

Wright rose to prominence when he proclaimed that he was the enigmatic and unknown Satoshi Nakamoto, the creator of Bitcoin. The Australian native claimed to have written the 2008 White Paper for which the cryptocurrency sector has been built.

Also Read: Craig Wright is Not Bitcoin Creator Satoshi Nakamoto, Judge Rules

Craig Wright Gets Prison Sentence After Suing Jack Dorsey’s Block

There is no denying that 2024 has been one of the most important years in Bitcoin’s history. The asset has reached six figures for the first time and became the basis for the first crypto-based ETF in the United States. Its value is only increasing, as it looks to continue to become a key part of global finance.

Yet, for all of its accomplishments, the origin of the asset class is still unknown. Moreover, in a recent development, the man who had claimed to be behind the identity of Bitcoin creator Satoshi Nakamoto, Craig Wright, has been sentenced to a year in prison.

Source: Forbes

Also Read: UK Court Denies Craig Wright’s Appeal, Affirm He Did Not Create Bitcoin

Wright was sentenced Thursday after he sued Jack Dorsey’s new company, Block, for $1.2 trillion. In May, the London High Court found that Wright’s claims of being Bitcoin’s creator were unfounded. Moreover, they uncovered falsified documents to support his claim.

Thereafter, the Crypto Open Patent Alliance (COPA) argued against Wright’s ability to sue Bitcoin developers, including Dorsey’s company. They stated that his filed suit “breached an injunction preventing Wright from bringing litigation on the basis of his claim to be satoshi,” The New York Post reported.

Jonathan Hough, the group’s lawyer, stated the root of the lawsuit was seeking to support what was proven to be a false claim. Specifically, though called the suit “a desperate publicity stunt to keep his cultish supporters engaged.” Now, Wright is set to pay the price with a year-long prison sentence.

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