HBO Joins the Hunt for Bitcoin's Satoshi Nakamoto – Will They Succeed?

HBO claims it has uncovered the true identity of Satoshi Nakamoto.

The network is set to release a documentary titled "Money Electric: The Bitcoin Mystery" on Tuesday, where they say they will reveal who the mysterious creator of Bitcoin truly is. Directed by investigative filmmaker Cullen Hoback, the documentary aims to solve one of the biggest mysteries in the cryptocurrency world. Hoback is known for his 2021 HBO series that exposed the leader of the QAnon conspiracy as 8kun site administrator Ron Watkins, despite Watkins' denial. If Hoback manages to uncover Satoshi's identity, it would solve a puzzle that has puzzled the world since Bitcoin's inception.

However, past attempts to unmask Satoshi have not succeeded.

In 2014, Newsweek journalist Leah McGrath Goodman published an article titled "The Face Behind Bitcoin," suggesting that Dorian Satoshi Nakamoto, a California-based Japanese-American, was the elusive creator. However, Dorian firmly denied any connection to Bitcoin, and the claim was soon debunked by other journalists.

Then in 2015, WIRED published an article proposing that Australian computer scientist Craig Wright might be the mastermind behind Bitcoin. Wright went on to make media appearances declaring himself as Satoshi, speaking to outlets like the BBC, The Economist, and GQ. But soon after, his story started to fall apart. Wright, who has faced scrutiny over questionable business practices, appeared to be fabricating the claims, likely to deal with tax issues in Australia and to profit by copyrighting the Bitcoin white paper.

Could Len Sassaman Be the Real Satoshi Nakamoto?

Wright launched a series of lawsuits, targeting Bitcoin developers and the family of a former associate, to gain court-ordered access to Satoshi’s untouched stash of 1.1 million Bitcoins. He claimed he lost access to them after destroying the hard drive containing the private keys. Wright also went after anyone who called him a fraud, threatening legal action against people like podcaster Peter McCormack and former teacher Magnus Granath (aka Hodlnaut).

However, earlier this year, a UK court ruled that Wright was not Satoshi Nakamoto and declared him a fraud. The court ordered Wright to publicly admit he was not the Bitcoin creator on his website and social media. Despite this ruling, Wright vowed to appeal, maintaining support from his dwindling follower base.

The media has been cautious to point fingers at any new Satoshi contenders, wary of repeating past mistakes. Meanwhile, the crypto community has largely agreed that it's best to leave Satoshi’s identity a mystery. Even Coinbase, the U.S. crypto exchange, noted in its S-1 filing that unmasking Satoshi could pose a business risk.

However, curiosity around Satoshi’s true identity hasn’t faded. Some believe any number of early cypherpunks could be behind Bitcoin’s creation. Popular theories include computer programmer Hal Finney (who passed away in 2014 and lived near Dorian Nakamoto), Bit Gold creator Nick Szabo, Hashcash developer Adam Back, and b-money creator Wei Dai—all of whom have denied being Satoshi. Less common theories suggest programmer and criminal boss Paul Le Roux (currently in prison) or even the CIA. Some also argue that Satoshi was not a single person but a group of developers.

According to reports, among Polymarket bettors, 46% believe Satoshi could be Len Sassaman, a computer programmer and cypherpunk who took his own life in 2011, shortly after Satoshi ceased posting on early crypto forums like BTCTalk.