Cryptocurrency expert helping North Korea pleads guilty

Cryptocurrency expert helping North Korea pleads guilty

On Monday, September 27, 2021, Virgil Griffith, a former senior researcher at the Ethereum Foundation was scheduled to go on trial for conspiring against the US with North Korea. Instead of a trial, however, he decided to appear before a district judge in a Manhattan, New York court and plead guilty. What exactly happened is described below.

What did Virgil Griffith do?

In April 2019, Virgil Griffith traveled to Pyongyang to attend the Blockchain and Cryptocurrency Conference. Griffith was one of about 100 attendees. The U.S. Department of Justice did not allow him to leave, however, the scientist ignored the formal warning and crossed the border into North Korea from China. 

It is known that he gave a presentation at the conference with the title “Blockchain and Peace”. The presentation, and the topics it covered, were approved in advance by North Korean officials. After the conference, Griffith participated in discussions about using blockchain technology to avoid sanctions and money laundering.

Here’s what the Justice Department says about Griffith’s presentation: it was to focus on “how blockchain technology, such as smart contracts, can be used to benefit North Korea, including in nuclear negotiations with the United States.” In contrast, the U.S. lawyer in the U.S. vs. Griffith trial adds that he has helped “one of the United States’ most dangerous adversaries, North Korea.”

Will Griffith face consequences?

Vrigil Griffith lived in Singapore until 2019. In April 2019, he flew to Los Angeles, and was arrested there. For the time being, he’s been in federal custody since July 2021, as Judge Castel revoked his bail on the grounds that the value of Griffith’s cryptocurrencies has increased. So will the programmer suffer the consequences? There is no doubt about it. Virgil Griffith will be sentenced on January 18 next year. Initially, he was facing up to 20 years in prison, however, after negotiations, prosecutors agreed to a sentence of 63 months to 78 months.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load