Former Ethereum Dev Virgil Griffith Pleads Guilty to North Korea Charge, Enters Plea Deal for 6.5 Years: Report
On September 27, 2021, at the Southern District of New York courthouse, the trial against former Ethereum developer Virgil Griffith started at 9:30 a.m. (EST). Griffith was facing 20 years behind bars for discussing bloc...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
On September 27, 2021, at the Southern District of New York courthouse, the trial against former Ethereum developer Virgil Griffith started at 9:30 a.m. (EST). Griffith was facing 20 years behind bars for discussing blockchain technology in North Korea. Around 10:30 a.m., Griffith pleaded guilty and accepted a plea deal with up to six and a half years in prison.
Former Ethereum Dev Pleads Guilty
Virgil Griffith appeared in court today and about an hour into the trial, the defendant pleaded guilty in an apparent plea bargain. The former Ethereum developer was indicted when he spoke at a blockchain conference held in North Korea.
The U.S. government accused Griffith of providing “highly technical information to North Korea,” and information that could help North Korea “launder money and evade sanctions.” While Griffith waited for his trial he was on house arrest and lived with his parents.
On Virgil Griffith, here are this morning's docket entries: guilty plea to Count 1 with forfeiture admitted. Defendant "remanded into custody;" sentencing Jan 18. Ironically, after that an order that his lawyer can take their fees out of his Coinbase accounts pic.twitter.com/mTm6Q3DllU
— Inner City Press (@innercitypress) September 27, 2021
However, at the end of July, it was reported that Griffith violated the terms of his bail and had been taken into custody. At that time, Griffith allegedly had his mother sign into a Coinbase account he owned but was barred from using.
On Monday, Griffith appeared at the Southern District of New York courthouse, and Ethan Lou, a journalist, spoke about the guilty plea. Lou then added at around 10:30 a.m. (EST) that Griffith pleaded guilty and the journalist said:
Virgil Griffith has pleaded guilty, in a surprise development. Plea deal with up to 6.5 years in prison. Judge will sentence on Jan. 13 next year.
“Virgil was quite emotional. Deep sighs sometimes when he spoke. Unclear what new development caused this guilty plea. The paperwork was signed only yesterday. One possible reason is the barring of the remote testimony of an Ethereum Foundation lawyer,” Lou further tweeted on Monday morning.
Matthew Russell Lee of Inner City Press has also been reporting on the trial and he discusses Griffith’s plea deal in a Monday morning podcast.
In the initial indictment, U.S. Attorney Geoffrey S. Berman explained that “Griffith jeopardized the sanctions that both Congress and the president have enacted to place maximum pressure on North Korea’s dangerous regime.” Ethan Lou’s last tweet notes that Griffith tried to get advice on how to prove he did not help the country.
“[The] defence had wanted [a] lawyer’s testimony to show that Virgil had tried to seek legal advice and ultimately did not attempt to actually help North Korea. [The] lawyer, however, based in Singapore, had [an] issue travelling due to the pandemic,” Lou said.
What do you think about the reports that say Griffith has pleaded guilty and accepted a plea deal with up to six and a half years in prison? Let us know what you think about this subject in the comments section below.
Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Securitize Teams With Korea’s LG CNS to Explore Tokenized Funds and Stablecoins
Securitize and Korean technology company LG CNS announced a strategic partnership, set out in a memorandum of understanding, aimed...
Tether Celebrates 12 Years, USD₮ Surpasses 700M Users
Key Takeaways: Tether marked the 12th anniversary of the world’s largest stablecoin by market cap, USD₮. The company claims that U...
Ethereum Researcher Says AI May Break Encryption Before Quantum Does
Ethereum Foundation researcher Justin Drake urged holders to calmly move funds to unused addresses, warning that AI-driven math co...
Ethereum ETFs Lose $201.9 Million As Bitcoin Funds Return To Inflows
TL;DR: US spot Ethereum ETFs recorded $201.9 million in net outflows on October 6, according to Farside Investors. Bitcoin ETFs mo...
Ethereum Tests 200 Million Gas Limit On Sepolia As Glamsterdam Moves Forward
TL;DR: Ethereum’s Sepolia testnet is testing a 200 million block gas limit as part of work around the Glamsterdam upgrade. The exp...
Pudgy Penguins Team to Shutter Ethereum Layer 2 Network Abstract
Another Ethereum Layer 2 chain bites the dust: Just days after the creators of the once-hyped Blast said they’re shutting down the...