Man Who Denied Creating Bitcoin Lawyers Up

Accused of creating Bitcoin, Dorian Satoshi Nakamoto obtained a lawyer and released a statement in which he denies creating the virtual currency.
Posted at 3:35 PM, Mar 17, 2014

The man Newsweek accused of creating Bitcoin has hired a lawyer and released a formal statement denying his involvement with the creation of the currency.

Dorian Satoshi Nakamoto was the subject of a media-wide chase earlier this month after Newsweek claimed it had uncovered information suggesting he created the troubled virtual currency Bitcoin.

A Reuters reporter first tweeted the statement — in which the 64-year-old says he didn't even know what the term "Bitcoin" was until last month. He insists he "did not create, invent or otherwise work on Bitcoin." (Via Twitter / @felixsalmon)

Nakamoto also explains he has a background in engineering and the ability to program, but he has "no knowledge of ... cryptograpy, peer to peer systems, or alternative currencies." (Via Los Angeles Times)

Nakamoto has denied his involvement before, but Newsweek is sticking by its story — saying it was an "exhaustive investigation."

NAKAMOTO: "No, no, no. OK. I'm not involved in Bitcoin, OK?" (Via Instagram / hunterschwarz)

NAKAMOTO: "I've never created a code. I've never created a concept. I just believe that somebody — it could have been designed this way to put my name in there." (Via KABC)

In the statement, Nakamoto claims Newsweek's mistaken identity has negatively affected him, and as a writer for TechCrunch puts it, the statement's release could signal future legal action against the publication.

Whoever the founder of Bitcoin is, his, her, or their net worth is estimated to be about $400 million.