They accused him of inventing Bitcoin. Now, Nakamoto hires lawyer to clear his name

The man who Newsweek named as the inventor of Bitcoin has hired a lawyer in a bid to clear his name.

Dorian Satoshi Nakamoto of Temple City, California, has released a statement in which he claimed to be so skint that he couldn't even afford an internet connection. He "unconditionally" denied the Newsweek report.

Seeing as the person, or people, who go under the name Satoshi are reckoned to own more than a million Bitcoins, it is extremely unlikely that the real inventor of the cryptocurrency would be short of a bob or two.

In his legal statement, 64-year-old Nakamoto said the first time he even heard about Bitcoin was just before the story broke.

Through his lawyer, Nakamoto said: "After being contacted by a reporter, my son called me and used the word, which I had never before heard. Shortly thereafter, the reporter confronted me at my home. I called the police. I never consented to speak with the reporter."

Nakamoto admitted he had the ability to write computer code, but had been unable to find work as a programmer or engineer for 10 years. This "severe financial distress" caused Nakamoto to cut off his internet connection last year.

He underwent prostate surgery in October 2012 and suffered a stroke in October last year.

"My prospects for gainful employment has been harmed because of Newsweek's article," he said. "Newsweek's false report has been the source of a great deal of confusion and stress for myself, my 93-year-old mother, my siblings and their families."

Newsweek has staunchly defended its "scoop" and backed reporter Leah Goodman. ®