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
North Korea arrests its own hackers for stealing from state banks and laundering through crypto
North Korea arrested former state cyber operators for hacking two state banks and laundering funds through crypto wallets, exposin...
BitMEX Shuts Down After 11 Years as Arthur Hayes Bids Farewell and CZ Reflects on Crypto Exchange’s Legacy
The exchange announced on July 23 that it will permanently cease operations at 04:00 UTC on September 23, 2026, following a strate...
Ethereum News: How a $67M ETH Short Reveals Hyperliquid’s Institutional Leap
In Ethereum news today, Fasanara Capital, a London-based quantitative asset manager, is holding a $67M ETH short on Hyperliquid vi...
Bitcoin Slumps But These Mining Stocks Are Up Thanks to AI Deals
Bitcoin Magazine Bitcoin Slumps But These Mining Stocks Are Up Thanks to AI Deals Bitcoin may be slumping — along with the Nasdaq...
$67M Ethereum Short On Hyperliquid Shows How Institutional Trading Is Moving On-Chain
A large Ethereum short on Hyperliquid is giving the market another glimpse of how serious capital is starting to use decentralized...
Charles Hoskinson: Ethereum Is Copying Cardano’s EUTXO Model Without Credit
Cardano founder Charles Hoskinson has yet again accused Ethereum developers of adopting Cardano’s Extended Unspent Transaction Out...