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HomeNewsUK Judge Issues £6 Million Freezing Order on Craig Wright: Bitcoin Creator...

UK Judge Issues £6 Million Freezing Order on Craig Wright: Bitcoin Creator Identity Dismissed

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  • A UK court froze £6 million in Craig Wright’s assets over disputed claims to be Satoshi Nakamoto, the creator of Bitcoin.
  • The freeze is intended to collect payment for COPA’s legal fees, highlighting Wright’s history of financial order failures.

Craig Wright’s assets worth £6 million ($7.6 million) have been subject to a worldwide freezing order by a UK court. Wright’s controversial assertion that he is the anonymous creator of Bitcoin, Satoshi Nakamoto, is the reason behind the change.

In a lawsuit that the Crypto Open Patent Alliance (COPA) filed, Wright categorically denied this claim.

Legal Battle Over the Origins of Bitcoin

As previously reported by ETHNews, Judge James Mellor’s decision on March 14 dismissed Wright’s claim to the Bitcoin throne and concluded that he did not write the original Bitcoin white paper or develop the early versions of the software. It is capping a legal battle that has drawn attention from the cryptocurrency community.

Freezing Assets to Protect Expenses

The reason the court decided to freeze Wright’s assets was because they thought he would try to shift his money abroad to avoid the financial fallout from his legal setback.

Also, Wright’s subsequent notification to Companies House on the transfer of shares from his RCJBR Holding company to DeMorgan, a Singapore-based entity, added to this anxiety.

COPA’s Attorney Fees and Wright’s Default History

Not only that, the ruling revealed that COPA spent over £6.7 million on legal fees, highlighting the high financial stakes in this dispute.

In his ruling, Judge Mellor emphasized Wright’s past noncompliance with financial orders, saying, “There is a very serious risk of dissipation… Dr. Wright has a history of default in connection with orders for the payment of money.”

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Syofri
Syofri
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628
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