Craig Wright’s $1.9M in assets to be frozen

A UK court has issued a worldwide restraining order (WFO) against Australian computer scientist and entrepreneur Craig Wright.

The move prohibits Wright from moving his assets until he pays £1.548 million ($1.9 million) in legal fees to popular cryptocurrency podcast host Peter McCormack.

Craig Wright Loses in Court

The legal battle between the parties began in 2022, when self-proclaimed Bitcoin creator Wright sued McCormack. Wright claimed McCormack had defamed him in several social media posts and a YouTube video in which the podcaster claimed the scientist was fraudulently claiming to be Satoshi.

In a previous judgment, the court found that McCormack’s comments had damaged Wright’s reputation. However, Wright was awarded only £1 in nominal damages because of his dishonest conduct, including providing false evidence.

The UK court upheld the decision and noted that the libel case was part of a wider campaign by Wright. The judge said the law would be in a “miserable and sad state” if a plaintiff in McCormack’s position could not recover the costs of the proceedings.

The judge ordered Wright to pay McCormack £1.548m in legal costs. He ruled that the libel case should never have been “commenced or pursued” because it was based on lies and supported by a series of forged documents. The court also issued a WFO against Wright, highlighting his history of failing to comply with payment orders and the risk of asset dissipation.

The lawsuit marks another significant victory for the crypto community against Wright. In recent years, the Australian has systematically filed lawsuits against those who claim he is not Satoshi Nakamoto.

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