Investing.com - Australian police raided the Sydney home and office on Wednesday of a man named by Wired magazine as the probable creator of bitcoin (BTC-eUSD) and holder of hundreds of millions of dollars worth of the cryptocurrency.
More than a dozen federal police officers entered a house registered to Craig Steven Wright, whom Wired outed as the likely real identity of Satoshi Nakamoto, hours before his home and office in Sydney were searched by police.
Satoshi Nakamoto is the pseudonym of the person or group of people who authored the paper, protocol and software that gave rise to bitcoin.
The identity of Satoshi Nakamoto has long been a mystery that journalists and bitcoin enthusiasts have tried to unravel.
Unlike traditional currency, bitcoins are not distributed by a central bank or backed by physical assets such as gold, but are "mined" using computers to calculate increasingly complex algorithmic formulas.