The true identity of Satoshi Nakamoto — the pseudonymous creator of the world’s biggest cryptocurrency Bitcoin — has been a mystery for more than 13 years, but he or she could be unmasked in the coming days due to a lawsuit being heard in federal court in Miami.
In the lawsuit, the family of David Kleiman, who died in April 2013, claim that the late computer scientist collaborated with his Australian business partner Craig Wright to create the pseudonym Satoshi Nakamoto and found Bitcoin.
Mr Wright reportedly asked Kleiman to help him author a nine-page white paper on the digital currency and launch it in 2008, the family say.
The family also say Mr Wright kept Kleiman's share of about half a million Bitcoins.
Described by industry experts as an extraordinary mathematician and programmer, Mr Wright has claimed to be Bitcoin’s creator since 2016. But this claim has been dismissed by most of the stakeholders in the Bitcoin community.
“We believe the evidence will show there was a partnership to create and mine over one million Bitcoins,” Vel Freedman, a lawyer working on behalf of Kleiman’s family, told The Wall Street Journal.
However, Mr Wright’s lawyer Andres Rivero said there is no connection between his client and Kleinman.
“We believe the court will find there's nothing to indicate or record that they were in a partnership,” the journal quoted Mr Rivero as saying.
Satoshi Nakamoto's 2008 white paper was a revolutionary piece that turned the financial world upside down, and the associated invention of the database underpinning Bitcoin and blockchain would become a part of the so-called Fourth Industrial Revolution.
In December 2010, however, Satoshi Nakamoto suddenly stopped posting on a Bitcoin forum, seemingly dropping off the face of the earth. There has been speculation over his or her identity ever since.
The Bitcoin creator's posts have been forensically analysed for information, but with little success.
Industry analysts said that the true identity of Satoshi Nakamoto can be determined through a private key that controls the account that holds one million Bitcoins. Anyone claiming to be Satoshi Nakamoto can prove the claim by moving coins out of that account.
It is not surprising that the privacy-conscious cryptographer who created Bitcoin would want to preserve the mystery of his or her identity. If revealed, governments could hold him or her liable for crimes committed using the currency, experts said.
Moreover, as its inventor, Satoshi Nakamoto is estimated to own about one million Bitcoin ($64bn), on which taxes could be claimed.
Last week, Bitcoin surged past $68,000 for the first time to a new high, part of a wider recent rally in the cryptocurrency sector.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
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Price: On request
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km
Global state-owned investor ranking by size
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
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The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
