Fun

Ethereum Developer Virgil Griffith Sentenced to 5+ Years in US Prison for Violating North Korean Sanctions

News Feed - 2022-04-13 09:04:37

Ethereum Developer Virgil Griffith Sentenced to 5+ Years in US Prison for Violating North Korean Sanctions


An Ethereum developer, Virgil Griffith, has been sentenced to five years and three months in U.S. prison after he pleaded guilty to a charge brought on by speaking at a crypto conference in North Korea. According to the U.S. Department of Justice (DOJ), his presentation provided the Kim Jong Un regime with “technical advice on using cryptocurrency and blockchain technology to evade sanctions.” Ethereum Developer Virgil Griffith Going to Prison for Violating North Korean Sanctions


Virgil Griffith, an Ethereum developer, was sentenced to 63 months in prison Tuesday by U.S. District Judge P. Kevin Castel in Manhattan.


Griffith pleaded guilty in September last year to one count of conspiracy to violate the International Emergency Economic Powers Act (IEEPA). The charge carries a maximum term of 20 years in prison. However, in a plea deal, prosecutors agreed to seek no more than six and a half years.


The Ethereum developer was arrested in November 2019 in Los Angeles. He is charged with violating the IEEPA “by traveling to the Democratic People’s Republic of Korea (DPRK or North Korea) in order to deliver a presentation and technical advice on using cryptocurrency and blockchain technology to evade sanctions,” the DOJ said.


The crypto enthusiast has been in federal custody since July last year following his second arrest when Judge Castel revoked his bail. According to the federal judge, a surge in the value of his cryptocurrency holdings gave him the means and incentive to flee. He was reportedly arrested when logging into his Coinbase account.


Inner City Press quoted Judge Castel as saying Tuesday: “Some says Mr. Griffith is being persecuted for promoting crypto. But that’s not what this case is about. He pled guilty the day before trial. It was an intentional violation of sanctions, which are intended to avoid military conflict.” The judge concluded: Virgil Griffith has no ideology. He’ll play off both sides, as long as he is at the center. I sentence him to 63 months in prison and a fine of $100,000. The ‘US vs. Virgil Griffith’ Court Case


The case followed Griffith’s visit to North Korea in order to attend the “Pyongyang Blockchain and Cryptocurrency Conference” or “the DPRK Cryptocurrency Conference” in April 2019, the DOJ explained. The court document details: Despite that the U.S. Department of State had denied Griffith permission to travel to the DPRK, Griffith presented at the DPRK Cryptocurrency Conference, knowing that doing so violated sanctions against the DPRK.


The DOJ noted that at no time did Griffith, a U.S. citizen living in Singapore, obtain permission from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) “to provide goods, services, or technology to the DPRK.”


The Department of Justice further added that “Griffith and other attendees discussed how the DPRK could use blockchain and cryptocurrency technology to launder money and evade sanctions” at the conference. There were approximately 100 other attendees. Tags in this story ethereum developer, ethereum developer north korea, ethereum developer prison, etherum dev, Virgil Griffith, Virgil Griffith north korea, Virgil Griffith prison, Virgil Griffith sanction violation, Virgil Griffith sanctions


What do you think about Virgil Griffith’s sentencing? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. FDIC Asks Thousands of Banks to Disclose Crypto Plans REGULATION | 2 days ago Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets REGULATION | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleQuik․com Marketplace Launches Minting of NFT Domain Names Next articleJoystream Raises Additional $5.85 Million Dollars in Funding Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3


On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge ... read more.NFT Marketplace Opensea to Add Credit Card, Apple Pay Support via Moonpay Bandai Namco Announces Gundam Themed Metaverse Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says Study: 10% Growth in Crypto Market Cap Reduces Value of African Firms by 0.76%

News Feed

Tristan Greene6 hours agoResearchers demonstrate ‘unconditionally secure’ quantum digital paymentsThe research represents a possible breakthrough in quantum communications and, potentially, the onset of the era of qu
Jesse Coghlan5 hours agoMeta ‘ruined’ the term metaverse, but now it’s evolving: Yuga Labs CEOWhile Meta’s Horizon Worlds is suffering from a low user base, metaverse platforms have focused on building, says Yuga
Former US President Trump no longer anti-Bitcoin, says can ‘live with it’
Prashant Jha13 hours agoFormer US President Trump no longer anti-Bitcoin, says can ‘live with it’Users on X pointed out that Trump’s recent change in tune toward Bitcoin could be just an election-related tactic to
Gold Rebounds After Sunday’s Flash Crash — Price Slide Blamed on Thin Trading Conditions, Leverage, Covid
Gold Rebounds After Sunday"s Flash Crash — Price Slide Blamed on Thin Trading Conditions, Leverage, Covid The price of an ounce of gold dropped dramatically th
Ezra Reguerra14 hours agoDota 2, Rocket League pros ‘want to explore’ Web3 and blockchain gamingProfessional Dota 2 player Erik “Tofu” Engel believes that Web3 has very beneficial features for gamers.5958 Total v
Kevin O’Leary Shares Crypto Investing Strategy — 20% of His Portfolio Now in Crypto and Blockchain
Kevin O"Leary Shares Crypto Investing Strategy — 20% of His Portfolio Now in Crypto and Blockchain Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared his cryptoc
Helen Partz11 hours agoCoinbase CEO slams Chase UK for ‘totally inappropriate’ crypto moveCoinbase CEO Brian Armstrong has been actively pursuing the exchange’s expansion ambitions in the United Kingdom amid mounti
Bitcoin.com’s Market Aggregator Now Features Into the Block Crypto Asset Statistics
Bitcoin.com"s Market Aggregator Now Features Into the Block Crypto Asset StatisticsAt Bitcoin.com we take pride in providing the best cryptocurrency resources online so people can l
FTX US Raises $400 Million in Series A, Trading Platform’s Valuation Now $8 Billion
FTX US Raises $400 Million in Series A, Trading Platform"s Valuation Now $8 Billion On January 26, the crypto asset exchange FTX US revealed it raised $400 million in a Series A fi
48% of Ethereum Blocks Face Censorship From OFAC-Compliant Flashbots
48% of Ethereum Blocks Face Censorship From OFAC-Compliant Flashbots For a couple of years now, MEV-Boost relays or Flashbots have become popular tools in order to gather the maxim
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
Ukraine Now Takes Polkadot, Says It Will Accept Other Coins Soon
Ukraine Now Takes Polkadot, Says It Will Accept Other Coins Soon Having already raised millions of dollars in major cryptocurrencies like bitcoin, Ukraine is now receiving donation