In an escalation of threats, the creator of Bitcoin Satoshi’s Vision (BSV), Craig Wright, has begun suing crypto dissenters for slander. His efforts are being supported by Calvin Ayre, the founder of CoinGeek.

Blogger and cryptocurrency commentator Peter McCormack (@PeterMcCormack) posted today a shocking letter from Craig Wright’s attorney telling him he would be sued. The lawsuit, if brought forward, would be on the grounds that McCormack has been engaging in “harassment and libel” over claims Craig Wright is “fraud” and not Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

The letter is in response to McCormack calling Wright “Faketoshi” and “a fraud” repeatedly on Twitter. The letter cites the “serious harm” to Wright’s reputation from these tweets and calls them “intentionally defamatory.” It also demands reimbursement for the “substantial damages” caused by these tweets. If McCormack does not comply with the demands by April 23, a court order will be issued against him for libel.

McCormack has received much support from the cryptocurrency community in response to these demands.

He has also joked that “the reality is that I am really Satoshi Nakamoto so Craig can’t be.”

A Hysterical Escalation

The letter comes at a time when many in the cryptocurrency space have been rallying behind the hashtag #WeAreAllHodlonaut. The trending hashtag was meant to expose Wright’s threats of libel lawsuits to many members of the cryptocurrency space.

Hodlenaut was a Twitter user who recently received the ire of Wright after claiming in a series of tweets he was a “fraud” and posting images mocking him. Wright’s attorney threatened Hodlonaut with a libel case if he did not “apologize” and “retract his statement.” Wright was also attempting to doxx Hodlenaut, and many of his supporters, if they did not comply with his demands.

The letter to Hodlonaut even absurdly included an example of what the apology should look like:

I was wrong to allege Craig Wright fraudulently claimed to be Satoshi. I accept he is Satoshi. I am sorry Dr. Wright. I will not repeat this libel.

Calvin Ayre, a supporter of BSV and founder of CoinGeek, escalated these threats by offering $5,000 in BSV to whoever could identify Hodlenaut based on the few photos he has posted online.

CZ, the founder of Binance, chimed in on the accusations by outright stating that “Craig Wright is not Satoshi” and if this farce continues, Binance would delist BSV from the exchange.

CZ said in a following tweet that he generally “does not pick sides” but this has gone “too far.” He also said that the Bitcoin Cash hard-fork and succeeding war by Wright caused unnecessary pain in the industry for no gain.

Why Is Wright Doing This?

The hysterical attitude of Wright and his supporters has left many Bitcoin supporters scratching their heads. If Wright was, by some absurdity, actually Satoshi, why then would he be actively pursuing legal charges against his detractors? Moreover, what is Wright hoping to achieve from these actions?

It has always been difficult to ignore Wright’s outrageous claims. However, suing fellow cryptocurrency commentators for a difference of opinion is an escalation few anticipated. In many ways, it is antithetical to what the cryptocurrency space is all about.

This should all force us to reexamine those who have thus far refused to condemn Wright. Perhaps major players should consider isolating him altogether before this problem further metastasizes. If we don’t, this entire fiasco could bring the entire cryptocurrency space down with it.

What are your thoughts on the Wright controversy? Are the events that transpired reprehensible? Let us know your thoughts below.