UK Court Orders Asset Freeze on Craig Wright

The High Court of the United Kingdom has ordered the freezing of assets belonging to computer scientist and self-proclaimed Bitcoin creator Craig Wright. This decision comes in response to a libel lawsuit involving podcaster Peter McCormack.

Legal Background and Court Order

Peter McCormack, the host of the “What Bitcoin Did” podcast, one of the most comprehensive bitcoin podcasts you can find, sought a worldwide freezing order (WFO) to recover his legal costs from a defamation suit initiated by Wright. McCormack announced on social media platform X, where he has 543,000 followers, that the court order froze approximately £1.54 million ($1.9 million) of Wright’s assets. This amount is intended to cover McCormack’s legal expenses.

Justice James Mellor, in his ruling, stated, “Wright was using the law of defamation to silence anyone who dared to contend that Dr. Wright was not Satoshi or to question his claim… I was entirely satisfied that Mr. McCormack has a good arguable case (indeed a very strong case) for recovery of costs in the sum of £1.548 million.”

Wright’s Claim and Libel Lawsuit

For years, Craig Wright has claimed to be Satoshi Nakamoto, the mysterious creator of Bitcoin. However, in a ruling earlier this year, a judge found compelling evidence that Wright is neither Satoshi nor the author of the Bitcoin white paper, which outlines the original concept of the digital currency.

The legal battle began when Wright sued McCormack for libel after McCormack publicly called Wright a “fraud” and disputed his claim of being Satoshi Nakamoto. McCormack’s challenge to Wright’s assertion led to the costly defamation proceedings, which McCormack has now successfully navigated to recover his legal fees.

The ruling not only impacts Wright’s financial situation but also sends a message about the misuse of defamation laws. The court’s decision highlights the importance of protecting free speech, especially in debates surrounding controversial figures in the tech and cryptocurrency industries.