Craig Wright Loses Lawsuit as Assets are Frozen

Craig Wright Loses Lawsuit as Assets are Frozen

Craig Wright, who claimed to be the creator of Bitcoin, has had his assets worth £6 million frozen globally. This measure aims to prevent Wright from transferring his funds overseas and escaping the legal costs resulting from a case where he was deemed not to be Satoshi Nakamoto.

Judge James Mellor, presiding over the case brought by the Crypto Open Patent Alliance (COPA), concluded that Craig Wright was not the author of the Bitcoin whitepaper or the early versions of the Bitcoin software.

This decision on March 14 was followed by the announcement of the transfer of the shares of Craig Wright’s company, RCJBR Holding, to DeMorgan, an entity organized under the laws of Singapore, raising concerns about a possible tax evasion attempt.

Concerned about Wright’s history of non-compliance with payment injunctions, Judge Mellor imposed a global freeze on Craig Wright’s assets, as the legal costs for COPA are estimated at around £6.7 million. Mellor highlighted the risk that Wright might take measures to evade the financial consequences of his legal defeat.