Craig Wright Freezing

High Court Issues £1.5m Freezing Order Against Craig Wright

In a significant legal development, the High Court has today handed down a Worldwide Freezing Order (WFO) against Craig Wright.

Wright an Australian known for his controversial claim to be Satoshi Nakamoto, the creator of Bitcoin has lost the legal battle he fought in the months prior.

We have reported on the final court ruling back in May and June and have warned that Craig Wright was a fraudster early on.

The order, issued by Mr Justice Mellor, freezes assets worth £1.548 million to support the recovery of legal fees owed to Peter McCormack, a bitcoin podcaster and Wright’s opponent in the defamation case.

Craig Wright Asset Freeze

The freezing order comes in the wake of a defamation claim brought by Wright against McCormack, which was tried before Justice Chamberlain in May 2022.

The judgment, handed down in August 2022, had significant implications for both parties. On the one hand, CSW’s fraud has been debunked, on the other hand the victims such as Hodlonaut and Peter McCormack saw their legal defense cost go parabolic,

Justice Mellor, who presided over McCormack’s application for the WFO, cited his familiarity with various actions involving Wright’s claim to be Satoshi Nakamoto as a reason for his appointment to hear this case in the Media and Communications List of the King’s Bench Division.

Who will receive Money from Assets frozen from Craig Wright?

The £1.548 million covered by the freezing order comprises costs from the original defamation claim to which McCormack is already entitled, as well as two additional sets of costs.

McCormack contends he has a strong case for entitlement to these additional costs due to what he alleges is the “fundamentally fraudulent nature” of Wright’s defamation claim.

The order also includes ancillary relief in the form of orders for disclosure of assets and permission for the WFO to be enforced or recognized in the courts of Australia, the Seychelles, Antigua, and Singapore.

Craig Wright vs. Peter McCormack

The legal dispure between Wright and McCormack started with comments McCormack made on Wright being a fraudster. He commented in several tweets and a YouTube video, where McCormack accused CSW of fraudulently asserting he was Satoshi Nakamoto, the pseudonymous inventor of Bitcoin.

Following McCormack’s statements, Wright filed a lawsuit against the podcaster, claiming that McCormack defamed his character.

Court rules Wright is not Satoshi

In a landmark ruling, London’s High Court has made official that Craig Wright, is not “Satoshi Nakamoto”.

Judge James Mellor, presiding over the case brought by the Crypto Open Patent Alliance (COPA) against Wright, declared that the evidence against Wright’s claim was “overwhelming.” The judge explicitly stated, “Dr Wright is not the author of the Bitcoin white paper,” and “Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011.”

This ruling marks a significant moment in the cryptocurrency world, putting to rest years of controversy surrounding Wright’s persistent claims. COPA, whose members include Twitter founder Jack Dorsey’s payments firm Block, initiated the legal action to prevent Wright from suing Bitcoin developers, seeking a definitive ruling on his claimed identity as Satoshi.

COPA hailed the decision as “a win for developers, for the entire open source community and for the truth.” The organization’s spokesperson emphasized the impact of Wright’s claims, stating, “For over eight years, Dr Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community.”

The 2008 Bitcoin white paper, published under the Satoshi Nakamoto pseudonym, is considered the foundational text of the cryptocurrency. Wright’s claim to authorship of this document has now been officially rejected by the court.

In response to the ruling, a spokesperson for Wright stated that he was “not prepared to speak to anyone at this time.”

This decision is likely to have far-reaching implications in the cryptocurrency community and may affect ongoing disputes related to Wright’s claims. It also reignites the mystery surrounding the true identity of Satoshi Nakamoto, which remains one of the biggest enigmas in the tech world since Bitcoin’s creation in 2008.

This development marks another chapter in the ongoing legal battles surrounding Craig Wright and his claims in the cryptocurrency world. The case continues to draw attention from both legal and crypto communities, highlighting the complex intersection of digital currencies, identity, and the law.

The full judgment, detailing Justice Mellor’s reasons for granting the WFO, is available on The National Archives website.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *