Self-proclaimed bitcoin creator arrested for alleged fraud

Key facts:

Jörg Molt is charged with allegedly swindling 50 people totaling USD 2.14 million.

Jörg Molt has claimed to be the creator of Bitcoin, although he never presented verifiable evidence.

Jörg Molt was arrested in Germany for alleged fraud in relation to a bitcoin (BTC) pension fund. Years ago, this person had claimed to be the one who, under the pseudonym Satoshi Nakamoto, developed the aforementioned cryptocurrency.

This 48-year-old German citizen is accused of allegedly having swindled 50 people out of USD 2.14 million. His project, Bitcoin Pension, was an unregulated investment fund that invited investment in BTC mining in Sweden. This project stopped its operations in 2020 and investors, who did not get their money back, started complaints of scam.

According to the local press, the arrest occurred when the alleged fraudster a flight to Mexico was about to arrive. Investigators in the case maintain that this self-proclaimed Satoshi Nakamoto never invested the BTC collected in mining.

Jörg Molt introduced himself as the co-founder of Bitcoin and claimed to be the one under the pseudonym Satoshi Nakamoto. Source: Twitter.

Molt never showed concrete evidence to prove that he is the creator of Bitcoin. All of his evidence is based on the claim that he owned 250 thousand BTC. His ex-wife, in a video posted on Youtube, refutes this and says that, In 2008, when the Bitcoin White Paper was released, Molt didn’t even have a computer.

In addition to the alleged scam with Bitcoin Pension, Molt had created an educational academy called “Satoshi School.”

Andreas Antonopoulos: Jörg Molt is “a fraud”

Among Molt’s self-proclamations was that of being a close friend of renowned popularizer Andreas Antonopoulos, author, among other books, of Mastering Bitcoin. Your argument to defend such a claim it was a photograph in which they are seen together.

With just a photograph as proof, Jörg Molt claimed to be a close friend of bitcoiner popularizer Andreas Antonopoulos. Source: Twitter.

The Greek-British writer, in 2019, rejected any link with Molt: «apparently, a German named ‘Jörg Molt’ has been showing a selfie taken with me and telling people that we are friends. It’s a lie, I don’t know him at all.

Antonopoulos commented that, frequently, during his lectures, people ask him to take pictures with him and he does not reject those invitations, although he clarifies that this it does not mean that you have a bond with those people. “I will not stop taking photos with my readers and students just because scammers take advantage,” he added.

The lecturer concluded his explanation with a warning for Mölt or any other person who follows that action: “if you try to use my reputation to improve yours, fraudulently, I will use my reputation to reveal your fraud.”

Other self-proclaimed creators of Bitcoin

Molt is not the only person who has claimed to be the one who performed under the pseudonym Satoshi Nakamoto. Others are New Zealander Phil Wilson, also known as “Scronty”; British-Pakistani Bilal Khalid, also known as “James Caan”; and Australian-British Craig Wright.

The latter, dubbed “Faketoshi” by his detractors, is the founder of the altcoin Bitcoin Satoshi Vision (BSV). CriptoNoticias has reported its court battles in the UK to be recognized as the author of the Bitcoin White Paper.

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