Craig Wright Faces $1.9M Legal Bill As London Court Issues Freezing Order

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As a researcher with a background in law and cryptocurrency, I find this recent development in the Craig Wright vs. Peter McCormack case to be an intriguing turn of events. The UK High Court’s decision to grant a Worldwide Freezing Order (WFO) against Craig Wright is significant for several reasons.

As a researcher following the intricate legal proceedings surrounding Craig Wright’s claim to be Bitcoin‘s creator, I’m excited to report a major breakthrough. The UK High Court has made a significant move in this long-running saga by granting a Worldwide Freezing Order (WFO) against Wright, on behalf of Peter McCormack – a well-known figure in the cryptocurrency realm. This latest ruling represents a pivotal moment in the complex legal battles between Wright, his Satoshi Nakamoto assertion, and the broader crypto community.

Details of the Worldwide Freezing Order

A British judge, Mr. Justice Mellor, has approved a global asset freeze against Craig Wright at the request of Peter McCormack. The controversial figure, who asserts himself as Bitcoin’s creator, is the subject of this order issued by the UK High Court. The decision comes after a string of legal conflicts between the two parties.

The WFO, amounting to £1.548 million or $1.97 million, is intended to stop Wright from transferring assets in order to evade paying McCormack’s court-related fees. These charges include fees for McCormack’s defense against Wright’s defamation lawsuit and expenses resulting from Wright’s dishonest behavior during the legal proceedings.

A defamation dispute arose due to McCormack’s accusatory social media posts and a YouTube video alleging that Wright had deceptively claimed the identity of Satoshi Nakamoto, Bitcoin’s inventor. In an earlier ruling, the court established that Wright had submitted false evidence intentionally. Consequently, Wright was granted merely symbolic damages amounting to £1, although McCormack’s statements had significantly damaged Wright’s reputation. The Court of Appeal subsequently confirmed this verdict, taking into account Wright’s deceitful behavior throughout the legal proceedings.

In making his decision to approve the WFO (Writ for the Seizure and Sale of Goods), Justice Mellor took into account Wright’s past record of failing to honor payment orders and the possible risk of him disposing of assets to avoid financial obligations. The court expressed apprehension over Wright’s previous action of transferring company shares to an offshore entity soon after receiving a judgment against him, which suggested potential attempts to evade financial liabilities.

Broader Implications and Ongoing Legal Battles

As an analyst, I’ve been observing the legal landscape surrounding Bitcoin’s origin story, and I cannot help but notice that the ongoing action against Wright fits into a larger pattern. He has found himself at the center of multiple lawsuits, all centering on his assertion that he is Satoshi Nakamoto, the creator of Bitcoin. In a related case, the Crypto Open Patent Alliance (COPA) emerged victorious after presenting substantial evidence in court, which revealed Wright’s claim to be a forgery and exposed doctored documents supporting it.

The High Court’s verdict serves as a stark reminder of the severe consequences of Wright’s deceitful actions and highlights the legal defenses designed to shield parties from asset dispossession in similar situations. Dr. Craig Wright, who has long professed to be Satoshi Nakamoto, the Bitcoin founder, had his claim dismissed by the court following an intensive legal dispute instigated by the Crypto Open Patent Alliance (COPA).

The court ruled against me, Wright, after I claimed to be the inventor of Bitcoin and presented allegedly false proof. Consequently, I am now legally prohibited from making such a claim anywhere in the world.

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2024-07-05 18:23