In a recent decision that has resonated throughout the cryptocurrency world, UK Judge James Mellor ordered the freezing of Craig Wright's assets valued at £6 million (approximately $7.56 million). This move comes amidst concerns that Wright, a computer scientist who claims to be Satoshi Nakamoto, Bitcoin's pseudonymous creator, might attempt to move his funds abroad or evade court fees following his loss in a lawsuit against the Crypto Open Patent Alliance (COPA).
Judge Mellor's decision on March 14, 2024, asserted that Wright is not the author of Bitcoin's white paper nor involved in the development of the cryptocurrency, effectively dismissing his claims to the Nakamoto identity. This ruling follows Wright's defeat in a legal battle with COPA, obligating him to cover the lawsuit's costs, which approximate to £6.7 million.
Following this legal setback, Wright informed the UK Companies House that the shares of his holding company, RCJBR, were transferred to DeMorgan Ltd. This action raised significant concerns for COPA, fearing Wright was attempting to circumvent the financial repercussions of his court loss. Judge Mellor noted Wright's history of failing to meet financial obligations, emphasizing COPA's rightful claim to a substantial reimbursement of legal expenses.
Previously, Wright was mandated to pay $516,000 in a lawsuit against Coinbase and Kraken. Despite numerous court attempts to establish his involvement in Bitcoin's development, Wright's arguments have been largely unconvincing, failing even to identify a person to whom he allegedly sent tokens on behalf of Satoshi Nakamoto.
Wright's legal confrontations, including a notable case against blogger Peter McCormack, have largely ended in defeat. The Supreme Court ruled that Wright provided knowingly false testimony in this case, resulting in a nominal compensation of £1. This series of legal challenges underscores the contentious and unresolved debate surrounding the true identity of Bitcoin's creator and Wright's claims within the cryptocurrency community.
