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Satoshi Impersonator Craig Wright Faces $7.6 Million Asset Freeze

2 mins
Updated by Bary Rahma
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In Brief

  • UK Judge freezes $7.6 million of Craig Wright's assets in Bitcoin creator dispute.
  • COPA challenges Wright's claim to be Satoshi Nakamoto, resulting in asset freeze.
  • Legal battle highlights copyright issues and the identity of the creator of Bitcoin.
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UK Judge James Mellor has placed a $7.6 million asset freeze on Craig Wright, the controversial figure who has claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

This decision follows a heated legal battle with the Crypto Open Patent Alliance (COPA), which challenged Wright’s assertion of being the digital currency’s founder.

Craig Wright Hit With Asset Freeze

The court’s decision was based on overwhelming evidence presented during the Joint Trial, leading to Judge Mellor’s conclusion that Wright was not, in fact, the creator of Bitcoin. This ruling came as part of a wider copyright and database right action initiated by Wright and two of his companies against certain developers, further complicating Wright’s legal entanglements.

“Dr Wright has a history of default in relation to orders for the payment of money… COPA has a very powerful claim to be awarded a very substantial sum in costs… I consider there is a very real risk of dissipation,” Judge Mellor wrote.

Moreover, the asset freeze, formally known as a worldwide freezing order (WFO), was prompted by Wright’s actions following the trial. He attempted to transfer shares from his company, RCJBR Holding plc, to DeMorgan PTE, a move seenas an attempt to evade the financial consequences of his defeat.

COPA’s proactive measures led to the urgent application for the WFO, showcasing the alliance’s determination to ensure accountability.

“Having given careful consideration to COPA’s costs arguments and attempting to anticipate the points which could be made in response on behalf of Dr Wright, I concluded the appropriate sum for the WFO was the sum of [$7.6 million],” Judge Mellor wrote.

Read more: Satoshi Nakamoto – Who is the Founder of Bitcoin?

The ruling affects Craig Wright’s financial assets and establishes a precedent for legally handling copyright and identity claims related to cryptocurrency technology.

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Bary Rahma
Bary Rahma is a senior journalist at BeInCrypto, where she covers a broad spectrum of topics including crypto exchange-traded funds (ETFs), artificial intelligence (AI), tokenization of real-world assets (RWA), and the altcoin market. Prior to this, she was a content writer for Binance, producing in-depth research reports on cryptocurrency trends, market analysis, decentralized finance (DeFi), digital asset regulations, blockchain, initial coin offerings (ICOs), and tokenomics. Bary also...
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