Fun

Judge reduces Ethereum dev’s prison sentence by 7 months

News Feed - 2024-07-18 05:07:18

Turner Wright3 hours agoJudge reduces Ethereum dev’s prison sentence by 7 monthsVirgil Griffith could be eligible for release as early as January 2025 after pleading guilty to violating US sanctions on North Korea.1847 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksA federal judge has granted a motion to reduce the sentence for former Ethereum developer Virgil Griffith, who pleaded guilty to violating sanctions on North Korea.


In a July 16 filing in the United States District Court for the Southern District of New York, Judge Kevin Castel signed off on an order reducing Griffith’s previously imposed sentence of 63 months in prison to 56 months. Judge Castel said the sentence would be effective as of Aug. 2, suggesting he would be eligible for release in January 2025.


Griffith spoke at a cryptocurrency and blockchain conference in the North Korean capital city of Pyongyang in 2019, giving more than one presentation about how the country could use crypto to evade sanctions and for money laundering. He pleaded guilty in 2021 before his criminal trial was expected to begin, and in April 2022, he was sentenced to 63 months in prison and ordered to pay a $100,000 fine.July 16 filing for Virgil Griffith. Source: SDNY


In April 2024, the legal team representing the Ethereum developer filed a motion requesting the court consider reducing the recommended sentence range for Griffith’s conviction from 63 to 78 months’ imprisonment to 51 to 63 months. Prosecutors argued that he “chose to evade” US sanctions and cited disciplinary actions imposed by authorities while in prison.


“The need to protect the public from further crimes of this defendant has somewhat dissipated, although the Court does note the defendant’s ‘rule infractions’ while in [Bureau of Prisons] custody,” said Judge Castel in the July 16 order. “The Court also takes note of the significant hardships the defendant has experienced while incarcerated. The need to impose just punishment for this serious offense, to promote respect for law, and to deter others from committing similar crimes, however, tilts against a substantial sentence reduction.”


Related:North Korean hackers deploy ‘Durian’ malware, targeting crypto firms


During his sentencing hearing in April 2022, Griffith said he had been “cured” of his “obsession with North Korea,” given the example set by sanctions on Russia in response to the country’s attack on Ukraine. Judge Castel said at the time that the Ethereum developer had no ideology and would likely “play off both sides, as long as he is at the center.”


Other high-profile figures in the crypto space, including former Binance CEO Changpeng Zhao and former FTX CEO Sam Bankman-Fried, are already serving time in prison following guilty pleas or criminal convictions. Starting in October, a New York judge will oversee sentencing hearings for two FTX executives who reached plea agreements with prosecutors.


Magazine:The FBI’s takedown of Virgil Griffith for breaking sanctions, firsthand# Law# Ethereum# Court# Crimes# Developers# RegulationAdd reaction

News Feed

Gareth Jenkinson10 hours agoUK Law Commission recommends ‘distinct’ legal category for cryptoThe U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownersh
Ana Paula Pereira2 hours agoCoinbase domain name reportedly used by scammers in high-profile attacksTwitter users have been sharing security incidents surrounding the crypto exchange, including claims that scammers are u
Singapore Regulator Explains Action Against Binance vs FTX — Warns Even Licensed Crypto Exchanges Can Fail
Singapore Regulator Explains Action Against Binance vs FTX — Warns Even Licensed Crypto Exchanges Can Fail The Monetary Authority of Singapore (MAS), the regulator overseeing the
Biggest Movers: APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week
Biggest Movers: APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week Apecoin was trading close to a two-month high on Monday, despite crypto prices mainly being in the
Bitcoin Trader Unrealized Profit Margins At High Levels – Risk Of Correction?
Este artículo también está disponible en español. Bitcoin set a new all-time high yesterday, reaching $93,483, continuing its impressive rally without significant setback
Bitcoin Sees Largest Net Taker Volume Drop Of 2025 – Traders React To Trump-Elon Clash
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
FTX wants to zero out claims on ‘Sam Coins’
Martin Young4 hours agoFTX wants to zero out claims on ‘Sam Coins’Lawyers for FTX say that customer claims for four SBF-linked cryptocurrencies: MAPS, OXY, SERUM, and BOBA should be heavily discounted or reduced to z
You can now deploy your own L3 rollup for $50 a month
Brayden Lindrea5 hours agoYou can now deploy your own L3 rollup for $50 a monthCrypto infrastructure startup Conduit says users can now launch their very own layer 3 with “only a few clicks.”810 Total views1 Total sh
Invesco Ether ETF sets fees at 0.25% as competition among issuers heats up
Alex O’Donnell6 hours agoInvesco Ether ETF sets fees at 0.25% as competition among issuers heats upThe proliferation of proposed spot Ethereum ETFs could benefit spot investors as fund sponsors compete on management fe
CoinTracking Launches Two Powerful, Free Plug-ins for Crypto Traders 
CoinTracking Launches Two Powerful, Free Plug-ins for Crypto Traders Though the top cryptocurrency exchanges offer charts, many don’t offer the analytical features crypto tra
Curtis Sword Becomes the First Blockchain-Based Large-Scale 3D ARPG
Curtis Sword Becomes the First Blockchain-Based Large-Scale 3D ARPG press release PRESS RELEASE. Curtis Sword, a 3D NFT ARPG mobile game on the blockchain, is excited to announce th
David Attlee33 minutes agoDZ Bank, third-largest German bank, to start crypto custody for institutional investorsDZ Bank AG launches its own digital assets custody platform, built on blockchain.548 Total views2 Total sha