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Satoshi Nakamoto: Craig Wright fails to prove he is Bitcoin inventor, but has his £6 million assets frozen by a UK Judge.

by Edison Irabor

Craig Wright, who claimed to be Bitcoin inventor Satoshi Nakamoto, has had his global assets frozen by Judge James Mellor in the United Kingdom (UK). The total asset frozen is worth £6 million ($7.6 million). This represents Dr Wright’s global assets.

Craig Wright is not Satoshi Nakamoto, rules UK Judge.

In a lawsuit brought by Crypto Open Patent Alliance (COPA) against Dr Wright, Judge Mellor ruled in early March 2024 that Dr Wright was not Bitcoin inventor Satoshi Nakamoto, contrary to his claim. 

For years, Dr Wright, an Australian computer scientist, has been claiming he is Satoshi Nakamoto, and has sued many individuals and organizations over it. Dr Wright has asserted that he created the Bitcoin technology and also the pseudonymous identity. According to Dr Wright, he came about the name Satoshi Nakamoto based on his admiration for Japanese culture, a combination of the surname of philosopher Tominaga Nakamoto and Satoshi David, a character in a book about American tycoon J.P. Morgan, and a Pokemon character.

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Also, Judge Mellor determined that Dr Wright did not author the popular Bitcoin whitepaper. Judge Mellor also determined that Wright did not write the initial versions of the Bitcoin software. 

The lawsuit cost COPA about £6.7 million pounds. This is according to a judgment posted on the Bitcoin Legal Defense Fund website on Wednesday. 

Founded in 2021, Bitcoin Legal Defense Fund is a non-profit foundation that supports Bitcoin developers and protects the Bitcoin ecosystem. Its first initiative was to coordinate the defense of a dozen Bitcoin developers who are being sued by Dr Wright through his various companies, including Tulip Trading Ltd, Wright International & Others, and sometimes personally by Craig Wright.

Read also: Bitcoin: Beyond the Whitepaper – Exploring Uncharted Territory

Dr Wright transfers its company shares offshore, triggering suspicion of evasion of court ruling as to costs.

Not long after losing the lawsuit, Dr Wright notified the UK’s Companies House that shares in his RCJBR Holding company had been transferred to DeMorgan. DeMorgan is a company established under the laws of Singapore.

Consequently, Judge Mellor ruled there was a risk that Dr Wright would move his assets offshore to avoid paying costs related to the case. The freezing order is meant to prevent Wright from moving the assets offshore and evading costs awarded against him in the court case.

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Considering the share transfer by Dr Wright above and default history, Judge Mellor concluded that there is “a very real risk of dissipation”. Judge Mellow believed the act of transferring his company shares offshore is a step to “evade the costs consequences of his loss at trial”. “Dr Wright has a history of default in relation to orders for the payment of money”, the judge took judicial notice. According to Judge Mellor, ” … COPA has a very powerful claim to be awarded a very substantial sum in costs …”

Till date, Satoshi Nakamoto remains unknown. A pseudonym, no one knows for sure if Satoshi Nakamoto is a man, woman, a group of persons, or organizations. Three years after inventing Bitcoin in 2008, Satoshi Nakamoto appear to have vanished.

Will the real Satoshi Nakamoto now please stand up?

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Image source: Irish Mirror