UK Court Freezes Assets of Self-Proclaimed 'Satoshi Nakamoto' Craig Wright

In a significant legal development, £6 million of Craig Wright's assets have been frozen by a UK court over unpaid legal fees from a failed lawsuit where he claimed to be Satoshi Nakamoto. This decision follows accusations that Wright transferred assets out of the UK after the court dismissed his claim. Judge James Mellor imposed a global freezing order in response to COPA's request for legal expenses, citing Wright's actions as raising "serious concerns" about his intent to evade costs.

Court Freezes Craig Wright's Assets to Ensure Compensation for Unsubstantiated Bitcoin Claims

In a decisive legal blow, a UK court has ordered the freezing of £6 million ($7.6 million) in assets belonging to Craig Wright, the controversial computer scientist who has repeatedly asserted his claim to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. This action aims to prevent Wright from evading legal obligations and compensate the Crypto Open Patent Alliance (COPA) for expenses incurred in a lawsuit that dismissed Wright's claims.

The ruling stemmed from concerns raised by COPA regarding Wright's alleged transfer of assets out of the UK following the court's previous dismissal of his Nakamoto claim. Specifically, Wright shifted shares from his London-based company, RCJBR Holding, to a Singaporean firm, prompting fears that he intended to avoid paying legal costs.

"Understandably, that gave rise to serious concerns on COPA's part that Dr. Wright was implementing measures to seek to evade the costs and consequences of his loss at trial," stated Judge James Mellor in addressing these actions.

Consequently, the judge imposed a "worldwide freezing order" in response to COPA's request for coverage of its legal expenses, which totaled $8,471,225 (£6,703,747.91). COPA, a non-profit organization founded in 2020, seeks to foster the widespread adoption of cryptocurrency technology and eliminate patents as an obstacle to growth. Its membership boasts renowned entities such as Coinbase, Block, Meta, and MicroStrategy.

Wright, an Australian computer scientist, has been embroiled in copyright disputes related to the Bitcoin network, asserting his alleged identity as Nakamoto. In January 2021, he audaciously demanded the removal of the Bitcoin white paper from two websites.

Challenging Wright's claims, COPA filed a lawsuit in April 2021, contesting his ownership of the Bitcoin copyright. The case, which garnered input from early Bitcoin developers, concluded on March 14, 2023, with a verdict strongly suggesting that Wright was not the true Nakamoto.

Unperturbed, Wright filed copyright infringement lawsuits against 13 Bitcoin Core developers and several companies in 2023, alleging infringement of his purported copyright over the Bitcoin white paper and code. These actions drew the ire of the Bitcoin Legal Defense Fund, which highlighted the detrimental impact of such lawsuits on Bitcoin's development, citing the undue stress and financial burden they impose.

Despite Wright's attempts to assert copyright over the Bitcoin white paper and code following a 2019 US copyright registration, his claims have faced widespread backlash. The Bitcoin white paper remains under an MIT open-source license, allowing for its free modification and reuse, rendering it immune to further copyright claims by Wright.

This decisive court ruling against Wright's assets serves as a testament to the judiciary's commitment to upholding the rule of law and preventing individuals from exploiting legal processes for personal gain. It underscores the importance of accountability in the cryptocurrency space and ensures that fraudulent claims do not go unpunished.