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2021-07-21 01:26:10
Ethereum developer Virgil Griffith breached the terms of his bail and was detained after he allegedly accessed his crypto account.
Virgil Griffith, a researcher with the Ethereum Foundation, was charged with conspiring to violate the International Emergency Economic Powers Act. The order came from Federal Judge P. Kevin Castel after Griffith allegedly sought access to Ethereum assets held by Coinbase in May.
Federal authorities allege that Griffith helped North Korea launder money through cryptocurrency to avoid U.S. sanctions by presenting at a blockchain conference in the North Korean capital Pyongyang in April. 2019. Griffith was arrested in November 2019.
Griffith was eventually issued a $1 million bail bond in late December 2019. He was released on bail with no access to his accounts and was placed under house arrest with his parents in Alabama. .
But the US Attorney’s Office sought to revoke Griffith’s bail after he allegedly attempted to access his crypto account on Coinbase through a third party, his mother.
Griffith’s attorney argued that was a misunderstanding. But Judge Castel of the United States Southern District Court did not take such a view.
He cited the expanding and popular Ethereum price as a reason for Griffith to risk touching his account. Realizing the possible danger, Castel ordered Griffith’s arrest. If convicted of the maximum penalty, Griffith faces up to 20 years in prison.
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