untitled design

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.

“In the circumstances, it is clear that the defamation claim was part of a deceitful, general campaign by Dr. Wright and his supporters to claim that Dr. Wright is Satoshi Nakamoto and, ultimately, to gain access to some or all of the large amount of Bitcoin attributed to Satoshi,” Judge Mellor wrote.

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.

“In all the circumstances I have no doubt that it is fair and appropriate to make a WFO, particularly as it seems to me that Mr McCormack should not run the risk of having the costs orders he obtains not granted,” the judge concluded.

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.

Stay up to date! Subscribe to World Stock Market on Telegram.

Source: Cryptocurrency

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular