UK judge freezes $7.6 million worth of Craig Wright's assets in Bitcoin creation rights trial

The world is watching the trial between Craig Wright and the Cryptozoological Open Patent Alliance (COPA) to decide whether the Australian computer scientist It is the creator of Bitcoin, Satoshi Nakamoto.

Based on the outcome of the trial, a British judge issued a worldwide freezing order (WFO) freezing Wright's assets worth $7.6 million. This decision was made because the case involved payment of fees to avoid high risks.

The creator of Bitcoin could be anyone but Wright

Craig Wright is the man behind the identity of Satoshi Nakamoto, who began claiming his pseudonymous identity as Satoshi Nakamoto. For years, these claims remained unsubstantiated and highly contested by the crypto community.

Wright has faced several legal battles over his attempts to prove Bitcoin's authorship and copyright of the Bitcoin white paper.

Judge James Mellor said that ruling that Wright was not the creator of Bitcoin did not negate the overwhelming evidence. The trial between the Australian computer scientist and COPA confirmed that "overwhelming evidence was presented" to refute Wright's unique claims.

The judge’s resolution concluded that “COPA has proven that Dr. Wright is not a Chinese Satoshi and is not the creator of Bitcoin.” However, a final determination to formally deem these claims false has not yet been completed and released.

Nonetheless, Judge Mellor granted a worldwide freezing order (WFO) worth £6 million ($7.6 million) against Wright's assets, as requested by COPA. According to the document, the cost of the trial totaled more than 6.7 million pounds ($8.45 million).

The application for judgment states that as a rule, after the trial judgment is finalized, a hearing is scheduled to be held "at which the remaining relief sought, including costs, etc., will be determined."

However, Mr Justice Mellor held that issuing judgment on the WFO application first was necessary to prevent Wright from evading court costs.

Concerns about payment of trial costs

Due to the short notice period between the WFO application and the hearing, Wright's legal team was "unable to make any decision on the application other than a very brief observation".

However, COPA "rightly anticipated this and made the WFO application to me without prior notice, thus properly recognizing their obligation to make full and candid disclosure."

At the hearing, COPA presented enough evidence to raise concerns about Wright's intention to pay damages after the trial. Some of the Australian computer scientist's actions on March 18 caused alarm.

On the Monday after the trial, Wright submitted a form notifying the Registrar of Companies that shares in his company RCJBR Holding had been transferred to DeMorgan PTE, a company organized under Singapore law.

The decision led COPA to believe Wright may take steps to move his assets offshore and "seek to escape the costs and consequences of losing at trial."

Additionally, Judge Mellor considered White's "history of default" in relation to orders to pay the money and his record of lying. According to the judgment, "COPA is entitled to a substantial sum of costs... I believe there is a real risk of loss of assets."

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