Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ethereum Researcher Arrested for Advising North Korea on Crypto Released on Bail

by Daily Hodl Staff
December 31, 2019
in Blockchain
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎ ‏‏‎

Virgil Griffith, a 36-year-old Ethereum researcher who was arrested at Los Angeles International Airport and taken into police custody on Thanksgiving Day for allegedly advising North Korea about how to circumvent US-led political and economic sanctions, was released from jail on a $1 million bond. 

Judge Vernon Broderick of the US District Court for the Southern District of New York (SDNY) granted the research scientist bail on December 30, after his family members secured the million-dollar bond, an Inner City Press report confirms.

Broderick added that “laws in this country are not suggestions… Assisting foreign governments with money laundering is illegal.”

Griffith, who must be accompanied by his parents, was given permission to return to his home in Alabama.

On Monday, Griffith’s attorney Brian Klein remarked via Twitter,

“Very pleased that earlier today a SDNY district court judge ordered my client Virgil Griffith released from jail pending trial, overturning the detention order of a SDNY magistrate judge.”

Earlier this month, Griffith’s initial request for bail was rejected after the discovery of text messages on his phone with his parents. They allegedly laid out Griffith’s plans to give up his US citizenship and establish a money laundering operation in North Korea.

‏‏‎

Case prosecutors said Griffith was a flight risk and was trying to obtain a passport to St. Kitts in the Caribbean.

Klein claims his client didn’t renounce his citizenship and that he was found guilty of violating sanctions, but not money laundering.

He added,

“At Virgil’s initial appearance in LA, the magistrate judge, after hearing argument, ordered him released. But the SDNY prosecutors then got a SDNY district court judge to stay his release until the Marshals transported him to LA. Virgil was transported to the SDNY, and last Thursday a magistrate judge ordered him detained pending trial. We appealed and won his release today.”

‏‏‎

Klein also confirmed that Griffith was suspended from working with the Ethereum Foundation, a non-profit organization that supports the ongoing development of Ethereum (ETH), the world’s second-largest cryptocurrency.  

Griffith has been charged by the US Attorney for the Southern District of New York and the Federal Bureau of Investigations for violating the International Emergency Economic Powers Act by traveling to North Korea to attend the Pyongyang Blockchain and Cryptocurrency Conference where he delivered a presentation on how to use cryptocurrency and blockchain tech to bypass international sanctions.

Federal prosecutors allege that Griffith provided “highly technical information” to the nation’s government, knowing that it could potentially be used to help the country engage in money laundering and bypass internationally imposed sanctions.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Chintung Lee

Submit a Press Release

Crypto Livewire – Press Releases

  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
  • Here’s How Traders Are Staking Crypto Assets Without the Hassle
    February 18, 2021
  • 99Bitcoins Takes Over the Dead Coins Project to Become the Cryptocurrency Undertaker
    February 17, 2021
  • Coinsbee Makes Spending Bitcoin Easy
    February 17, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$50,900.00
$50,900.00
1.72%
Ethereum
$1,630.60
$1,630.60
2.05%
Binance Coin
$254.85
$254.85
1.22%
Polkadot
$34.42
$34.42
0.7%
Cardano
$1.12
$1.12
7.57%
XRP
$0.471554
$0.471554
1.37%
ADVERTISEMENT

Spotlight

  • SEC’s Case Against Ripple and XRP Is Dead Wrong Legally and Factually, Says Former Chair Mary Jo White
    February 20, 2021
  • Blockstream CEO Says Institutional Investors Buying the Dip After Square’s $170,000,000 Bitcoin Purchase
    February 24, 2021
  • IMF Says Central Bank Currency Will Face Pressures in the Digital Age
    February 21, 2021
  • Bitcoin Is the Only Life Raft To Escape Poverty Trap, Says Macro Guru Raoul Pal
    February 19, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.