In a significant legal development, a British court has taken decisive action by imposing a global freeze on assets totaling $7.6 million belonging to Craig Wright, thereby preventing any attempts by him to transfer these funds overseas.

This legal maneuver comes on the heels of a recent ruling which debunked Wright's claims of being Satoshi Nakamoto, the mysterious figure behind the creation of Bitcoin. Judge James Mellor presided over this pivotal case initiated by the Crypto Open Patent Alliance (COPA), ultimately concluding that Wright's assertions were unfounded. The ruling established that Wright neither originated Bitcoin nor authored its seminal whitepaper, nor was he involved in the early development of Bitcoin software.

Following the court's decision, Wright took steps to notify the U.K.'s Companies House about the transfer of shares from his company, RCJBR Holding, to DeMorgan, an entity based in Singapore. However, this move did not shield him from the legal ramifications stemming from the court's judgment.

The rationale behind freezing Wright's assets, as outlined in a recent judgment shared by the Bitcoin Legal Defense Fund, is to secure approximately £6.7 million in legal costs incurred by COPA throughout the legal proceedings. Court documents shed light on the necessity of this freeze, expressing concerns that Wright might resort to offshore transfers to evade shouldering the financial burden of the case.

It is noteworthy that Wright had previously sought to resolve the dispute with COPA outside the courtroom in January, presumably to mitigate the mounting legal expenses. However, COPA rebuffed his offer, opting to pursue the matter through the legal channels available to them.