Highlights:
- The UK High Court granted a $1.9 million Worldwide Freezing Order against Craig Wright.
- The order aims to prevent Wright from moving assets to avoid paying legal costs.
- This ruling is part of ongoing legal challenges, discrediting Wright’s claim to be Bitcoin’s creator.
The UK High Court has issued a $1.9 million Worldwide Freezing Order (WFO) against Craig Wright in favor of cryptocurrency commentator Peter McCormack. This ruling marks a significant development in the ongoing legal battles surrounding Wright’s claims to be the creator of Bitcoin, also known as Satoshi Nakamoto.
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The High Court today handed down a Worldwide freezing order against Craig Wright, in the sum of £1.548m, to support the recovery of my legal fees.https://t.co/M76fT684S6
— Peter McCormack🏴☠️ (@PeterMcCormack) July 5, 2024
Court Orders $1.9M Asset Freeze Against Wright
Justice Mellor granted the WFO to prevent Wright from moving his assets to avoid paying legal costs incurred by McCormack. These costs stem from a defamation lawsuit initiated by Wright against McCormack over social media posts and videos accusing Wright of falsely claiming to be Bitcoin’s creator. The court found that Wright had presented deliberately false evidence during the proceedings.
The defamation case highlighted Wright’s fraudulent conduct, which included submitting false evidence. Despite initially ruling in Wright’s favor, the court only awarded him nominal damages of £1 due to his dishonest behavior. McCormack was ordered to cover a portion of Wright’s legal costs. However, with this new ruling, McCormack has a strong case to recover £1.548 million ($1.97 million) in legal fees from Wright.
Justice Mellor emphasized the serious nature of Wright’s conduct, describing it as part of a “mendacious overall campaign” to falsely claim ownership of billions of Bitcoin assets. The judge noted that Wright had a history of defaulting on payment orders, highlighting the risk of his assets dissipating. Wright’s current whereabouts are unclear, with the last known information placing him in East Asia.
Implications of the Freezing Order
The Worldwide Freezing Order prevents Wright from moving or hiding his assets, ensuring McCormack can recover his legal costs. This ruling aligns with a broader pattern of legal challenges against Wright, who has faced multiple lawsuits while asserting his claim to be Satoshi Nakamoto. Courts have increasingly scrutinized and questioned Wright’s use of defamation law to silence critics.
In a recent appearance to the court in June, Craig Wright was ordered to pay 85% of the legal costs incurred by the Crypto Open Patent Alliance (COPA) after a court ruled he was not the creator of Bitcoin. COPA took Wright to court in February to determine if he was Satoshi Nakamoto, the pseudonymous inventor of Bitcoin. In March, Judge James Mellor concluded Wright was not Nakamoto and did not author the Bitcoin whitepaper.
COPA’s legal team, led by Jonathan Hough, requested that Judge Mellor impose a civil restraint order on Wright to prevent further legal actions. Hough emphasized that Wright’s numerous legal threats warranted such an order. Additionally, COPA offered to provide a list of online posts that Wright should remove.
Justice Mellor’s ruling underscores the legal system’s ability to protect parties from fraudulent conduct and the risk of asset dissipation. The court’s decision sends a clear message about the seriousness of Wright’s actions and his lengths to perpetuate his false claims.
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