Singapore-based Ethereum Employee Arrest in the US for Helping North Korea

Virgil Griffith, who works for blockchain and cryptocurrency firm Ethereum in Singapore, has been arrested at the Los Angeles International Airport for violating US sanctions by advising North Korea on how it could use blockchain and cryptocurrency technologies to evade the sanctions.

US sanctions prohibit the transfer of goods, services, or technology to North Korea due to its nuclear weapons program.

Speaking on Griffith’s arrest, FBI Assistant Director William Sweeney said,

We cannot allow anyone to evade sanctions, because the consequences of North Korea obtaining funding, technology, and information to further its desire to build nuclear weapons put the world at risk.

The US Justice Department has stated the arrest, which says that Griffith was denied permission to travel to North Korea, but he still went there and made a presentation at the North Korea cryptocurrency conference in Pyongyang. In the presentation, he suggested that the North Korean government could use blockchain and virtual currency technologies to avoid US sanctions.

The statement also alleges that Griffith began outlining plans for carrying out cryptocurrency transactions between North Korea and South Korea after North Korean officials showed a keen interest in his proposals. He had also announced plans of surrendering US citizenship and “purchasing” citizenship of another country.

Griffiths has a doctorate in theoretical neuroscience and was hailed by the New York Times as a “cult hacker” 11 years ago.

Recent Articles

eToro Broker Review 2020 – All You Need to Know About eToro Before Signing Up!

  Overview eToro was established in the year 2007, known as one of the leading social trading platforms. Offering more than 1,000...

Plus500 Review 2020 – What you need to Know before Signing up with this Broker

Overview Plus500 was established in the year 2008 and it offers online CFD...

Danal FinTech to Adopt a Complete AML Product Suite Developed by Uppsala Security

Decentralized cybersecurity solutions firm Uppsala Security announced on Tuesday that it had signed a cryptocurrency anti-money laundering (AML) solution contract with the South Korean mobile...

Bitcoin Scams and Regulatory Authorities: Things You Should Know

The decentralized nature of Bitcoin and other cryptocurrencies is like a double-edged sword. On the one hand, it provides freedom from any...

Bitcoin Vs. Banks: Why Banks Continue to Remain Preferred Choice?

The evolution of technology has divided the world as never before. On the one side, we have an army of technology advocates...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox