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Guilty! Crypto and the Law in 2024
As we bid farewell to a tumultuous year in crypto law, it’s undeniable that 2024 has been marked by significant milestones, both positive and negative. In the world of crypto litigation, one theme stands out: guilty pleas and convictions.
The most high-profile case involving Craig Wright, the self-proclaimed Satoshi Nakamoto, is a stark reminder that crypto justice can be swift and merciless. Wright’s decade-long crusade to prove his authorship of Bitcoin’s whitepaper ended in utter defeat when Justice Mellor ruled against him in February, declaring him not Satoshi Nakamoto. The ruling was accompanied by an astonishing twist: Wright’s own fabricated evidence proved his downfall.
In a desperate attempt to salvage his reputation, Wright resorted to forging documents and misleading the court throughout the trial. His actions earned him a year-long suspended prison sentence for contempt of court, as well as a stern warning from Justice Mellor that any further transgressions would result in him being officially convicted on the run.
Wright’s fall from grace is a stark contrast to the tale of Californian duo charged with making $22 million in NFT rug pulls. The pair, who allegedly defrauded unsuspecting investors, have been charged and are now facing legal action. This case serves as a harsh reminder that crypto regulatory bodies will not hesitate to take drastic measures against those who abuse the system.
Another notable development is the ongoing saga surrounding Binance’s Tigran Gambaryan (formerly known as WazirX CEO). Despite his wife’s repeated pleas for intervention, Gambaryan was forced to spend six months in a Nigerian prison before being released and returning to the United States for medical treatment. His ordeal serves as a cautionary tale about the importance of proper legal representation.
In conclusion, 2024 has been marked by a series of high-profile failures and convictions that demonstrate the consequences of reckless behavior in the crypto space.
Source: fullycrypto.com
