Alleged bitcoin founder Dorian Nakamoto hires lawyer to clear name

The man Newsweek claimed is the creator of bitcoin has hired a lawyer in an attempt to clear his name, repeating a denial that he has ever had anything to do with the digital currency.

Dorian Satoshi Nakamoto - in a statement issued by his lawyer, Ethan Kirschner - said he "did not create, invent or otherwise work on" bitcoin. In the magazine's return to print this month after more than a year, Newsweek's cover story declared Nakamoto to be the "face behind bitcoin". Despite the repeated denials, the magazine has stood behind the story. He did not say if he would sue the magazine.

The 64-year-old engineer repeated that he had not heard of bitcoin until his son told him a reporter asked about it in mid-February. He said he has not been able to find steady work for 10 years and had cancelled his internet service last year "due to severe financial distress".

Nakamoto added that he is trying to recover from prostate surgery he had in 2012 and a stroke he suffered last October.

"My prospects for gainful employment has been harmed because of Newsweek's article," he said in the statement. " 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 said it had not received any statement or letter from Nakamoto or his legal counsel. "If and when we do, we will respond as necessary," it said.

On March 6, the day Newsweek posted its story online, about a dozen journalists descended on the home where Nakamoto lives with his mother in Temple City, California. Nakamoto denied ever being involved with bitcoin many times.