Hello everyone...
Today while reading the news, I found 2 headlines that caught my attention, first the Raees Brothers came out saying that nothing was stolen and it was all just a hack and only $5 million was missing, second Craig Wright the most hated man in the crypto sphere won a case against bitcoin.org over the bitcoin bank book.
A few days ago a piece of big news broke out, the biggest theft of crypto assets in Africa, as the Raees brothers founders of AfriCrypt, had disappeared with 69000 Bitcoins.
Many speculated about a possible hack, others of a big Ponzi scheme scam because the Raees made a statement that no one should report or sue because it would delay the recovery of the funds and many others said they were just another rug pull, as the brothers extracted $3.6 million in BTC from AfriCrypt accounts and customer wallets and made various moves with tumblers and dark web mixers to prevent the funds from being traced.
But for all the evidence pointing to them as clear fraudsters, the lawyers presented an implausible and even ridiculous defense, claiming that the company had been hacked and that the Raees brothers went into hiding because of threats from very dangerous people. They also claimed that the company had only managed funds for a maximum value of 200 million dollars.
But what put the icing on the cake, was that the financial sector authorities in Africa (the FSCA) said that they were not going to take legal action against AfriCrypt because cryptocurrencies are not legal in the country, so it is very clear that these scammers will get away with it because they may never go to jail. And this only gives rise to continuing creating platforms to continue scamming, as they may already be working on another project.
Here you can see the enormous pressure they are putting on bitcoin and cryptocurrencies since by not doing justice in these cases, people are disappointed and stop using them or do not use them for fear of losing all their money.
Certainly seeing so many skeptics talking nonsense about cryptocurrencies is a bit infuriating, but seeing Craig Wright claiming over and over again that he is the rightful owner of bitcoin is much worse, as on several occasions Wright has boasted that he is Satoshi Nakamoto even though he has never had the evidence to back up that claim such as the genesis block.
But as incredible as it may seem, this gentleman has won a legal victory about the bitcoin white paper, as Craig had previously sued bitcoin.org, Bitcoin.com, and Bitcoincore.org for having the bitcoin white paper in their portals and using them for other purposes for which he did not create it and further alleged that with these actions he was infringing intellectual property. And after no defense was filed by the defendants, the British court ruled in favor of Craig, and now the defendants must comply with Craig's orders and pay him the costs of the legal process.
But here we have to be clear about something, Craig's victory does not mean in the least that he is Satoshi Nakamoto or that he won because he finally presented solid evidence that he was the creator of that book, No. But because the owner of bitcoin.org Cøbra did not present a legal defense, so by default the court ruled in favor of Craig.
And speaking on this topic, Cøbra made some interesting statements on Twitter, that make you think that something is not right:
Maybe this is not encouraging news because it only means more repression and censorship, but do not worry, all this will pass because very soon what we see will change very fast and those who laugh now will cry later, the Saees brothers may have been able to get away with using the corrupt and twisted laws in their favor but when things change and more countries adopt cryptocurrencies and the laws change too what will they do then?
And what will happen when Craig can no longer pay for his scam? what will happen when no one listens to him anymore and everyone gets tired of the same old speeches? Will it finally backfire on him?
These are things that only time will tell....
