Police raid alleged bitcoin creator's home

The raid, on behalf of Australia's tax office, is not related to stories alleging the creator of bitcoin has been identified

The Australian Federal Police raided the Sydney home on Wednesday of an academic fingered by two technology publications of possibly being the programmer behind the virtual currency bitcoin.

The home belongs to Craig Steven Wright, who was named in stories in Wired and Gizmodo on Tuesday as likely being the elusive Satoshi Nakamoto based on leaked documents.

The raid was conducted on behalf of the Australian Tax Office, which declined to comment. Police said no arrests were made and that the raid was not related to the bitcoin reporting.

But the timing of the raid is likely to add to conspiracy theories around bitcoin, a system that launched in near obscurity in early 2009.

While the cryptocurrency itself has wobbled wildly in value over the years, the technology behind it, referred to as the blockchain, is being evaluated by major banks for use in financial systems.

The identity of bitcoin's creator remains an unsolved mystery. The pseudonym Satoshi Nakamoto is on a nine-page academic paper describing the bitcoin system.

Nakamoto was a consistent contributor to a forum dedicated to bitcoin but withdrew in mid-2010, saying he had moved onto other projects.

The New Yorker, Forbes and Newsweek and many other publications have investigated computing experts and cryptographers who may have had the technical skill to create bitcoin. But no case assembled has ever been definitive, and no person has publicly claimed credit.

From one perspective, unmasking bitcoin's creator is something of a treasure hunt: it's believed whomever created the system probably has as many as 1 million bitcoins that were created early on, which would be worth US$415 million.

The stories published by Wired and Gizmodo rely on a batch of documents given to the publications, which include emails from Wright to a business partner in Florida and documents regarding bitcoin queries with the Australian Tax Office.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jeremy Kirk

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?