$7.6 Million in Assets of Impostor Craig Wright Frozen Following Loss of Bitcoin Creator Lawsuit

A UK court has issued an order to freeze $7.6 million of Craig Wright’s assets, preventing the transfer of these funds outside the country. This decision came after a ruling that found Wright is not Satoshi Nakamoto, the pseudonymous creator of Bitcoin, despite his previous assertions to the contrary.

Judge James Mellor presided over the legal challenge brought forth by the Crypto Open Patent Alliance (COPA), determining that Wright’s claims of being the inventor of Bitcoin and the author of its original whitepaper were unsubstantiated. This legal action was taken to ensure Wright could not diminish his financial holdings before covering the lawsuit’s costs, estimated by COPA at about £6.7 million.

The freeze on Wright’s assets followed his actions to transfer shares from his company, RCJBR Holding, to DeMorgan, a Singapore-based firm. This raised concerns he might attempt to shield his assets from the legal repercussions of the trial.

Judge Mellor, in his judgment, highlighted the urgency of the situation, noting COPA’s grave concerns regarding Wright’s financial maneuvers post-trial. Judge Mellor stated: “Understandably, that gave rise to serious concerns on COPA’s part that Dr. Wright was implementing measures to seek to evade the costs consequences of his loss at trial.”

Wright’s earlier proposal to settle the matter with COPA outside of court in January was aimed at avoiding the growing legal expenses. However, COPA declined this offer, leading to the continuation of the case and the eventual freezing of Wright’s assets.