Satoshi

Satoshi Nakamoto

Bitcoin

James

A UK court presided over by Judge James Mellor has granted a worldwide freezing order (‘WFO’) for £6 million on an application brought by the Crypto Open Patent Alliance (‘COPA’) against Craig Wright.
Judge Mellor’s action is to prevent Craig Wright, a controversial figure in the cryptocurrency space, from potentially evading court-ordered financial obligations. The case which was instituted by COPA is <a href="https://bitcoindefense.org/wp-content/uploads/2024/03/COPA-v-Wright-WFO-Approved-Judgment-28.03.2024.pdf" rel="noopener noreferrer nofollow">challenging</a> Wright’s widely disputed claims of being Satoshi Nakamoto, the elusive inventor of Bitcoin.
<h2 id="b-judge-mellor-s-concerns-over-asset-dissipation-b">Judge Mellor’s Concerns over Asset Dissipation</h2>
In his earlier judgment, Judge Mellor’s decision not only counters Wright’s assertions but also concludes that<a href="https://thecoinrise.com/uk-court-rules-against-craig-wright-in-bitcoin-copyright-claim/" rel="noopener noreferrer nofollow"> he did not author the Bitcoin white paper or the initial versions of the Bitcoin Source Code</a>.
Following that ruling, Wright attempted to transfer shares of his RCJBR Holding Company to a Singapore-based entity, DeMorgan. This raised suspicion about potential asset dissipation. Drawing on Wright’s history of defaulting on payment orders, Judge Mellor expressed genuine concerns that Wright might seek to evade his financial obligations associated with the case.
<h2 id="b-prohibitive-legal-fees-accumulate-b">Prohibitive Legal Fees Accumulate&nbsp;</h2>
Therefore, the freezing order is to prevent Wright from transferring £6 million of his assets offshore. This will safeguard funds that could be used to cover the approximately £6.7 million in costs associated with the legal proceedings.
Experts insist that legal fees can be very prohibitive with reference made to the FTX bankruptcy case where<a href="https://thecoinrise.com/ftx-lawyers-in-huge-profit-as-exchange-scraps-reboot-plans/" rel="noopener noreferrer nofollow"> the legal team charged an average of $1800 per hour</a> and earned up to $1.5 million in fees per day
<h2 id="b-craig-wright-allegations-of-forgery-and-deception-b">Craig Wright: Allegations of Forgery and Deception</h2>
The legal tussle between COPA and Craig Wright has brought to light extensive allegations of document forgery. COPA is accusing Wright of fabricating evidence to support his claim of being <a href="https://thecoinrise.com/who-is-satoshi-nakamoto/" rel="noopener noreferrer nofollow">Satoshi Nakamoto</a>.&nbsp;
In COPA’s closing submission, it outlined allegations of deception on an “extraordinary scale,” suggesting that Wright had invented a false biographical history and produced forged documents to substantiate his claims.
Moreover, the latest investigations that seek to challenge Wright’s assertion of being the sole creator of Bitcoin have provided other evidence suggesting that Satoshi Nakamoto may actually be a collective entity. A tell-tale sign of that is the use of both “we” and “I” in the Bitcoin white paper. Experts say it hints at the possibility of a team operating under a singular pseudonym. This has further cast doubts on Wright’s claims.
The post <a href="https://thecoinrise.com/uk-court-freezes-6m-in-assets-belonging-to-craig-wright/" rel="noopener noreferrer nofollow">UK Court Freezes £6M In Assets Belonging to Craig Wright</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

UK Court Freezes £6M In Assets Belonging to Craig Wright

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