- UK court rules Craig Wright is not Satoshi Nakamoto and freezes over $7 million of his assets
- Ruling favors Bitcoin developers backed by Jack Dorsey who dispute Wright’s claims to be Bitcoin creator
- Assets frozen to prevent dissipation while developers pursue substantial legal costs from Wright over ongoing dispute about Bitcoin’s origins
A UK court has frozen over $7 million of Craig Wright’s assets after ruling that he is not the creator of Bitcoin. This is the latest development in an ongoing legal battle between Wright and a group of Bitcoin developers.
UK Court Rules Wright is Not Satoshi Nakamoto
Earlier this month, Judge James Mellor determined that Wright is not the person behind the pseudonym Satoshi Nakamoto, nor the author of the Bitcoin whitepaper. This ruling favored the Bitcoin developers backed by Twitter’s Jack Dorsey, who have disputed Wright’s claims.
Assets Frozen to Prevent Dissipation
Concerned that Wright may try to avoid paying legal fees, Mellor has frozen £6 million of his assets worldwide. This aims to cover the developers’ costs and prevent Wright from moving assets beyond reach. The freeze was expedited after Wright recently transferred company shares to an entity in Singapore.
Developers Have Strong Claim to Substantial Costs
While final cost orders await Wright’s response, Mellor agreed the developers have a powerful claim to high costs. However, it would not be right to finalize costs without allowing Wright to respond first. Freezing assets now prevents dissipation in the interim.
Ongoing Dispute Over Bitcoin Origins
This asset freeze marks the latest chapter in a long-running legal battle over Bitcoin’s origins. The developers, backed by Jack Dorsey, have repeatedly disputed Wright’s claim to have invented Bitcoin. They maintain his claims are an elaborate deception involving forged evidence. This ruling and asset freeze represents a setback for Wright in establishing himself as Satoshi Nakamoto.
