UK Court Freezes Craig Wright's Assets Over Court Cost Concerns

In a UK court, Judge James Mellor has issued a worldwide freezing order on £6 million ($7.6 million) of Craig Wright's assets, aiming to prevent Wright from moving his funds offshore to evade court costs. This legal action follows a case where Wright, who claimed to be Satoshi Nakamoto, the creator of Bitcoin, was found not to have authored the Bitcoin white paper nor developed the initial Bitcoin software.

The lawsuit, initiated by the Crypto Open Patent Alliance (COPA), led to the conclusion that Wright was not the individual behind the pseudonym Satoshi Nakamoto. Following the court's decision, Wright informed Companies House of the transfer of shares in his RCJBR Holding company to DeMorgan, a Singapore-based company, which raised concerns about asset dissipation. As a result, Wright is required to disclose all assets exceeding $30,000 in value and is prohibited from reducing his holdings below $7.6 million.

This ruling highlights the ongoing controversy and legal challenges surrounding the true identity of Bitcoin's creator and sets a precedent for the accountability of public figures within the cryptocurrency industry. The cost of the legal proceedings against Wright, as claimed by COPA, is approximately £6.7 million.