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Bitcoin founder Satoshi Nakamoto apparently is unmasked

Updated 64-year-old man denied he is still involved in the digital currency
Fri Mar 07 2014, 10:01

DIGITAL CURRENCY Bitcoin founder Satoshi Nakamoto apparently has been unmasked by Newsweek in a report published on Thursday that has been met with both disbelief and rage from the Bitcoin community.

While doubt still surrounds the report, Newsweek seems fairly convinced that the 64-year-old Japanese-American man named Satoshi Nakamoto, who resides in Los Angeles with his mother and children, is the real inventor behind the crypto-currency. The news magazine also posted a picture of the man it claimed was Nakamoto.

It interviewed Nakamoto, and while he admitted that he was involved in developing Bitcoin, he said that he no longer has anything to do with it.

He is quoted as saying, "I am no longer involved in that and I cannot discuss it.

"It's been turned over to other people. They are in charge of it now. I no longer have any connection," he added.

While seemingly no longer involved, Nakamoto is believed to be quite wealthy due to his part in founding Bitcoin. Despite living in a "modest, single family home" in the foothills above Los Angeles and driving an equally modest Toyota Corolla CE, he reportedly is worth around $400m. However, according to the report, he hasn't touched the cash, apparently because he doesn't want to be involved with Bitcoin any further.

The report has been met by both disbelief and anger from the Bitcoin community.

One commenter at the Newsweek website wrote, for example, "Unless he can do a signed transaction from an address known to be that of the originator of Bitcoin, then I don't believe. Sorry."

Another added, "Really immature journalism at best. A mistake that might cost someone their life at worst."

The unmasking of the inventor of Bitcoin couldn't have come at a worse time for the crytpo-currency. Japanese Bitcoin exchange Mt Gox recently shut down, and later confirmed the theft of 750,000 Bitcoins. What's more, according to a recent security report from Dell, threats targeting the crypto-currency are increasing, which could lead to more issues cropping up within the community.

In an interview with the AP, Nakamoto has denied that he is the founder of Bitcoin, disputing the Newsweek report. µ


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