HomesecurityEthereum dev: I helped North Korea avoid US sanctions

Ethereum dev: I helped North Korea avoid US sanctions

Cryptocurrency expert Virgil Griffith today admitted that he helped North Korea evade US sanctions by conspiring to violate the International Law on Emergency Financial Forces (IEEPA) and Executive Order 13466. for the Ethereum Foundation, was arrested in November 2019 by the FBI.

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Ethereum North Korea
Ethereum dev: I helped North Korea avoid US sanctions

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Tips on how to avoid sanctions and money laundering

He was arrested after traveling to North Korea to show the country how to use cryptocurrency technology and blockchain (ie smart contracts) to launder money and avoid sanctions.

The defendant also spoke about how North Korea could use cryptocurrencies to gain independence from the global banking system.

He went to North Korea, although he was denied permission by the Ministry of Foreign Affairs of USA and knew that doing so would violate US sanctions against the DRC without the permission of the Treasury Department, the Office of Foreign Assets Control (OFAC).

According to court documents, the cryptocurrency expert chose to obtain his travel visa on a separate piece of paper instead of his US passport to avoid creating physical proof of his trip to North Korea.

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He faces 20 years in prison

Following his conviction, Griffith, a U.S. citizen and Singaporean, faces a maximum sentence of 20 years in prison. He is scheduled to stand trial next year, on January 18, 2022.

Source of information: bleepingcomputer.com

Teo Ehchttps://www.secnews.gr
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