Police raided Reported Bitcoin creator’s home

By Park Sae-jin Posted : December 10, 2015, 08:36 Updated : December 10, 2015, 08:45

[Courtesy of Xinhua News Network]

[Footage of police raid of Craig Wright's home - Wrapped up YouTube Channel]

Craig Steven Wright, a possible mind behind Bitcoin, was raided Monday by Australian Federal Police. The police had nothing to say about the raid but directed a reporter to ask questions to the Australian Tax Office.

According to Engadget’s report on Monday, The police raided Mr. Wright’s home and registered office, but which felony he was accused of is not known. Tech specialist IT newsgroup Wired predicted that Mr. Wright is the creator of Bitcoin and may possess Bitcoins “Easily worth a nine-figure fortune”

According to Reuters, after speaking with the owner of MR. Wright’s home, the owner mentioned, “substantial computer system” which required three-phase electrical setup for extra power. Several officers who identified themselves as computer forensics personnel, the Australian authorities may have a definite evidence that Mr. Wright is the creator of Bitcoin.

Bitcoin, a cryptocurrency, which appeared online in 2008, its creator Satoshi Nakamoto was in veils. There were evidence that Mr. Nakamoto was an alias. To protect himself from authorities who may want the creator for violation of currency and tax related laws.

It is still not known whether Mr. Wright is Mr. Nakamoto. Mr. Wright appeared in Bitcoin Conference recently but never made it clear if he was the one. Tech specialists like Wired and Gizmodo only guessed based on evidence.

The digital currency or cryptocurrency did not worth much at its beginning. A Bitcoin Unit (BTC) was only U.S$ 0.0054, and now one BTC costs $ 417.25. The cyber currency has established its own market over the years, very actively distributed over the web.

However, due to its unique characteristics being a virtual currency without borderlines to apply taxes or physical regulations, Bitcoin is considered volatile and dangerous by multiple governments and banks.


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