Key Points
- A UK court has frozen $7.6 million of Craig Wright’s assets, preventing him from moving these funds overseas.
- The court ruling determined that Wright is not Satoshi Nakamoto, the creator of Bitcoin, despite his claims.
A court in the UK recently placed a global freeze on assets amounting to $7.6 million owned by Craig Wright. This effectively prevents Wright from transferring his funds to foreign accounts.
Earlier this month, a legal decision concluded that Wright is not the enigmatic Satoshi Nakamoto, the individual behind the creation of Bitcoin. Wright had previously claimed to be Nakamoto.
The Lawsuit and Its Outcome
The lawsuit was brought forth by the Crypto Open Patent Alliance (COPA). Presiding Judge James Mellor determined that Wright was not the inventor of Bitcoin, the author of the original Bitcoin whitepaper, or the developer of the initial versions of the Bitcoin software.
In the aftermath of the ruling, Wright informed the Companies House in the UK about the transfer of shares from his firm, RCJBR Holding, to DeMorgan, a company based in Singapore.
Freezing of Wright’s Assets
The decision to freeze Wright’s assets was detailed in a recent judgment. The aim of this move is to secure approximately £6.7 million in legal costs incurred by COPA. Court documents reveal that the freeze is intended to prevent Wright from depleting his resources. The judge was concerned that Wright might try to move his assets abroad to evade the costs associated with the case.
Wright had previously tried to settle the dispute with COPA out of court in January, in an attempt to avoid escalating legal costs. However, COPA declined his offer.
