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Bitcoin was created in 2008 by an anonymous personality, Satoshi Nakamoto. Due to his anonymous personality, many people have appeared so far claiming to be Satoshi Nakamoto. Now, German entrepreneur Jorg Molt, who claims to have invented Bitcoin and started the “Satoshi School”, has been arrested.

Man claiming to be Satoshi Nakamoto arrested

The 48-year-old man was caught by Bavarian police at Frankfurt Airport minutes before boarding the plane to flee to South America. After the arrest, Molt’s apartment in Karlsruhe was searched and evidence was found. Police also launched an investigation against a 54-year-old woman who was Molt’s friend.

Molt allegedly defrauded 50 people with the “Bitcoin Pension” project for an amount of 1.8 million euros ($2.14 million). The German entrepreneur, who is also a DJ, was trying to attract investors with his relatively large social media following.

So what was Molt’s goal?

Özedollarse’s plan was to use 60 percent of all investments to purchase Bitcoin mining hardware and generate sustained returns with a Sweden-based facility. The remaining 40 percent of the funds had to be kept in a secure account. In the worst-case scenario, Molt claimed that the money could be withdrawn from the account at any time. The “Bitcoin Pension” closed its doors in 2020 after many community members filed fraud allegations. Throughout the investigation, it turned out that the self-proclaimed Satoshi never thought of investing the Bitcoin he received into mining.

Another “faketoshi”

Molt rose to fame after having an argument with cryptocurrency commentator Kenneth Bosak at the World Crypto Con in Las Vegas in November 2019. Multiple prominent cryptocurrency experts have reacted to Molt, who has declared himself as the creator of Bitcoin. Molt also claimed to personally own 250,000 BTC.

Cryptocoin. com, another person who claimed to be Satoshi was Craig Wright. Wright’s intent was to provide proof that he was the author of the 2008 Bitcoin whitepaper, and therefore Satoshi Nakamoto.


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