Connect with us

Hi, what are you looking for?

World

US cryptocurrency expert jailed for helping North Korea evade sanctions

About sharing

Korean People's Army soldier saluting during a parade for the "Day of the Sun" festival on Kim Il Sung Square in Pyongyang, North Korea, 15 April 2017.

Image source, Reuters

A former US researcher at a cryptocurrency group has been sentenced to more than five years in prison for conspiring to help North Korea evade US sanctions using cryptocurrency.

Virgil Griffith had earlier pleaded guilty to conspiring to violate US law.

He formerly worked for the Ethereum Foundation, a non-profit organisation focused on the technology behind the cryptocurrency ether.

Advertisement

The sentence was the minimum amount of prison time sought by prosecutors.

He was also fined $100,000 (£76,864). The 39-year-old had been facing a maximum sentence of 20 years in prison and a $1m fine.

His lawyer said in a statement that while the sentence was disappointing, the judge “acknowledged Virgil’s commitment to moving forward with his life productively, and that he is a talented person who has a lot to contribute.”

US Attorney Damian Williams said in a statement that “justice has been served.”

In September, Griffith pleaded guilty to conspiring to violate the US International Emergency Economic Powers Act by traveling to North Korea’s capital Pyongyang to give a presentation on blockchain technology.

According to prosecutors, Griffith, who has a doctorate from the California Institute of Technology, travelled to North Korea via China in April 2019 to speak at the Pyongyang Blockchain and Cryptocurrency Conference, despite being denied permission by the US Department of State to go.

Prosecutors said Griffith understood the information could be used to evade sanctions that Washington had imposed on North Korea over its development of nuclear weapons.

“The most important feature of blockchains is that they are open. And the DPRK [Democratic People’s Republic of Korea] can’t be kept out no matter what the USA or the UN says,” Griffith said during the presentation according to prosecutors.

In September, the US Department of Justice said he had “jeopardised the national security of the United States” by undermining sanctions.

The Ethereum Foundation said at the time of Griffith’s arrest that it had not approved or supported his travel to North Korea.

line

You may also be interested in:

This video can not be played

To play this video you need to enable JavaScript in your browser.

You May Also Like

World

For many years we have seen how the Soft Power used by the Kremlin works exclusively through culture, exhibitions, musical groups presentations, etc. It...

United States

A child’s advice for coping with anxiety has gone viral after his mother shared it on Twitter. (Hint: It involves doughnuts, dinosaurs and Dolly...

United States

As health care workers prepare to enter the third year of the pandemic, we are experiencing disillusionment and burnout on an extraordinary scale. Many...

United States

In June a statistic floated across my desk that startled me. In 2020, the number of miles Americans drove fell 13 percent because of...

Copyright © 2021 - New York Globe