- The UK court’s decision to freeze Craig Wright’s assets demonstrates a proactive stance in preventing potential evasion of court costs.
- By issuing a ‘worldwide freezing order,’ the court aims to ensure that Wright does not dispose of assets to avoid financial obligations resulting from his failed claim of being Satoshi Nakamoto.
A UK judge has authorized the freezing of £6 million ($7.6 million) worth of assets belonging to Craig Wright, a contentious figure who has claimed to be Satoshi Nakamoto, the elusive creator of Bitcoin. This legal maneuver aims to prevent Wright from evading court costs linked to his failed bid to establish himself as Nakamoto.
The decision to freeze Wright’s assets stems from his recent efforts to relocate some of his holdings outside of the UK. This relocation included transferring shares of his London-based company, RCJBR Holding, to a Singaporean entity on March 18. Concerns were raised by the Crypto Open Patent Alliance (COPA), prompting legal action to prevent Wright from circumventing the financial consequences of the court ruling against him.
The court approved a ‘worldwide freezing order’ requested by COPA, totaling £6 million, to cover the organization’s legal expenses amounting to $8,471,225. This action underscores the seriousness of COPA’s concerns regarding Wright’s attempts to mitigate the fallout from his legal defeat.
Judge James Mellor, presiding over the case, acknowledged COPA’s status as the prevailing party in the legal dispute. He emphasized the likelihood of COPA securing an order for its substantial legal costs, given the outcome of the trial.
Craig Wright, an Australian computer scientist, has attracted controversy by asserting himself as Satoshi Nakamoto, utilizing these claims to pursue copyright-related actions concerning the Bitcoin network. Notably, in January 2021, he filed copyright claims demanding the removal of the Bitcoin whitepaper from two websites.
COPA initiated legal proceedings against Wright in April 2021, contesting his assertions of being Nakamoto and thus holding copyright over Bitcoin. Testimonies from early Bitcoin developers, including Martti Malmi, contributed to the court’s ruling on March 14, which overwhelmingly rejected Wright’s claims of being Nakamoto, as reported by The Block.
UK Court Takes Action Against Craig Wright’s Asset Relocation
In a decisive move, a UK court has frozen £6 million ($7.6 million) worth of Craig Wright’s assets, thwarting his attempts to evade court costs related to his disputed claim of being Satoshi Nakamoto. This legal action underscores the severity of consequences faced by individuals attempting to circumvent legal obligations, even in complex cases involving cryptocurrency and intellectual property rights.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
