Australian claims he is the founder of Bitcoin
Have we finally discovered the mysterious founder of cryptocurrency Bitcoin?
Australian businessman and computer scientist Craig Wright claimed Monday he created the digital currency. If true, the claim would end one of the biggest mysteries in tech. But Wright's claim carries a big "if," raising the possibility the news is simply one more red herring in one of the Internet's favorite whodunnits.
In a blog post published Monday, Wright said he is behind the online alias Satoshi Nakamoto, the name identified with the creator of the digital currency, which aims to replace cash and the traditional financial system with unique codes shared between users.
Bitcoin prices have been on a roller coaster during the past three years, bid up by the currency's potential and then pummeled by the collapse of an exchange and bitcoin's connection to criminal activity. But the currency's associated blockchain technology, which acts as a public ledger, has been increasingly sought after by large financial institutions.
Wright's post is largely technical, explaining how through cryptographic keys — a key element in the technology — he can prove he is the founder.
"Satoshi is dead," says Wright in the post. "But this is only the beginning."
According to the BBC, Wright says he wanted to end the speculation surrounding the identity of Satoshi. BBC, The Economist and GQ were given access to Wright and reviewed evidence Wright says proves he founded Bitcoin.
Wright also told the BBC he did not want to step forward to "be the public face" of Bitcoin. "There are lots of stories out there that have been made up and I don't like it hurting those people I care about," he says. "I don't want any of them to be impacted by this."
The online identity Satoshi amassed roughly 1 million Bitcoins, which are worth $450 million if converted to cash, according to the BBC.
In a separate post published Monday, Bitcoin Foundation chief scientist Gavin Andresen says he is "convinced beyond a reasonable doubt" Wright is the founder after a recent meeting in London. Andresen says Wright used cryptographic keys only Satoshi would own.
"I am very happy to be able to say I shook his hand and thanked him for giving Bitcoin to the world," writes Andresen.
However, doubts continue to linger over whether Wright is really Bitcoin's founder.
Cornell University computer science professor and cryptocurrency expert Emin Gun Sirer disputed Wright's claims, noting he failed to provide a "free-standing signature" from Satoshi.
"We have yet to see proper cryptographic proof," said Sirer in an email interview. "Even with cryptographic proof, there's still the possibility that the real Satoshi's keys may have been compromised or reverse-engineered. But we have not even seen that yet. What we've seen looks like a deliberate attempt to mislead."
This would not be the first time the elusive founder of Bitcoin was identified incorrectly, if that ends up the case. In 2014, Newsweek claimed they discovered the founder: Dorian Satoshi Nakamoto from Temple Hills, Calif. The magazine's disclosure set off a bizarre chase in the Los Angeles suburbs as reporters raced to Nakamoto's house. Days later, in an interview with The Associated Press, Nakamoto denied any role.
News reports had also previously identified Wright as Bitcoin's founder. Reports last December from Wiredand Gizmodo point to Wright as Satoshi. A report from Wired soon after said new clues suggested Wright was attempting a hoax.
Follow Brett Molina on Twitter: @brettmolina23.