UK Court Freezes Craig Wright's Assets Post Satoshi Nakamoto Court Case

UK Court Freezes Craig Wright's Assets Post Satoshi Nakamoto Court Case

By: Isha Das

A worldwide freeze has been issued on £6 million of Craig Wright's assets by a UK court, as per a recent filing. The move is intended to prevent Wright from transferring funds offshore and escaping court-imposed costs. The ruling comes after a lawsuit by the Crypto Open Patent Alliance (COPA), during which Judge Mellor found that despite Wright's statements, he was not the mysterious Bitcoin creator, Satoshi Nakamoto.

The litigation against Wright sought to refute his claims of being the original author for the groundbreaking Bitcoin white paper and the first versions of the cryptocurrency's software. Wright's recent effort to move shares from his RCJBR Holding company to DeMorgan, a company registered in Singapore, led to fears of potential avoidance of the trial's cost implications. This concern led to this significant judicial intervention.

COPA estimates that its costs total around £6.7 million. Judge James Mellor expressed apprehension over Wright's history of non-compliance with monetary orders. He noted a 'very real risk of dissipation' of assets, creating the ground for the decision to enforce the asset freeze. The judgement has been disclosed on the Bitcoin Legal Defense Fund's website.

The court found substantial proof against Wright's claim of being Nakamoto. This ruling is a turning point in the case, placing emphasis on the validity of Wright's claims and the open-source nature of Bitcoin. The affair brings attention to the legal complexities surrounding copyright, identity, and verification of claims in the dynamic blockchain and cryptocurrency sectors. The case sets a precedent on how crypto's fundamental documents are treated legally. For the non-proprietary development of Bitcoin, COPA's win represents a broader victory for the digital asset industry.

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