UK Court Freezes £6 Million of Craig Wright’s Assets to Prevent Evading Court Costs
A UK judge has taken action to prevent Craig Wright from evading court orders following a ruling stating that Wright falsely claimed to be the creator of Bitcoin.
The judge issued a worldwide asset freezing order, effectively blocking £6 million ($7.6 million) of Craig Wright’s assets and prohibiting him from transferring them offshore, according to legal documents filed on Thursday .
“Yesterday, I granted a worldwide freezing order (‘WFO’) in the sum of £6m, on an application brought by the Crypto Open Patent Alliance (‘COPA’) against Dr Craig Wright,” Judge James Mellor wrote in the document.
The ruling stems from a court case initiated by the Crypto Open Patent Alliance (COPA), which challenged Wright’s claims of being Satoshi Nakamoto, the pseudonymous inventor of Bitcoin.
In a decision rendered on March 14, Judge Mellor not only debunked Wright’s assertions but also determined that he did not author the Bitcoin white paper or the initial versions of the Bitcoin software.
Shortly after the court’s ruling, Wright made a move to transfer shares of his RCJBR Holding company to DeMorgan, a Singapore-based entity.
This action raised concerns that Wright was attempting to evade the financial consequences of the court’s decision, particularly the costs associated with the case, which amounted to approximately £6.7 million.
In the judgment, Judge Mellor highlighted Wright’s history of defaulting on payment orders and expressed a genuine apprehension that Wright may dissipate his assets to avoid meeting his financial obligations.
The judge acknowledged COPA’s strong claim for substantial costs and concluded that there was a significant risk of asset dissipation.
“Having given careful consideration to COPA’s
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