UK court freezes $7.6m of Craig Wright’s assets

A British court has issued a global freeze on $7.6 million of Craig Wright’s assets, effectively blocking him from transferring the funds abroad. 

A legal ruling earlier this month found Wright not to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin, contrary to his previous claims.

Judge James Mellor presided over the lawsuit initiated by the Crypto Open Patent Alliance (COPA). The judge concluded that Wright did not invent Bitcoin, write the original Bitcoin whitepaper, or develop the early versions of the Bitcoin software. 

Subsequently, Wright informed the U.K.’s Companies House about the transfer of shares from his company, RCJBR Holding, to DeMorgan, a Singapore-based entity.

The decision to freeze Wright’s assets, detailed in a recent judgment shared by the Bitcoin Legal Defense Fund, aims to secure approximately £6.7 million in legal costs incurred by COPA. Documents from the court reveal the freeze prevents Wright from depleting his resources. The judge expressed concerns that Wright might attempt to move his assets offshore to avoid the case’s costs. 

Wright had previously attempted to settle the dispute with COPA out of court in January to circumvent escalating legal expenses, an offer that COPA declined.