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PRIVATE KEY

A cartoon space cat demonstrates why Wall Street is skeptical of crypto exchanges

CryptoScamHub/Screenshot
Not your average crypto kitty.
  • Matthew De Silva
By Matthew De Silva

Tech reporter

Craig Wright, an Australian computer scientist, has repeatedly drawn the ire of the cryptocurrency community by claiming to be Satoshi Nakamoto, the creator of bitcoin. He’s gone as far as threatening legal action against people who question his unsubstantiated claim. This time, though, it appears Wright may have overstepped.

After a pseudonymous Twitter user named Hodlonaut called Wright a “fraud,” the litigious Australian threatened to sue for defamation and issued a $5,000 bounty for Hodlonaut’s personal information. Wright’s plan backfired almost immediately, as the broader crypto community jumped to defend the cartoon space cat. Elizabeth Stark, CEO of Lightning Labs—which is developing a system to make bitcoin payments faster—started a legal defense fund for Hodlonaut, and many Twitter users changed their profile pictures to show support.

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