Tuesday, December 3, 2019

Ethereum Researcher Arrested, Charged In LA With Aiding North Korea

A researcher behind the popular Ethereum cryptocurrency has been arrested in Los Angeles, and charged with helping North Korea to evade sanctions, according to CNN on Tuesday. The researcher--Virgil Griffith--had been arrested on Friday at Los Angeles International Airport. According to a complaint from the U.S. Department of Justice, Virgil Griffith specifically traveled to the Democratic People's Republic of Korea (North Korea) in order deliver a presentation and technical advice on using cryptocurrency and blockchain technology to evade sanctions. Griffith allegely sought, but was not granted, permission from the U.S. to travel to North Korea for the presentation, but traveled anyway. The DOJ said Griffith specifically discussed how to "launder money and evade sanctions" using cryptocurrency like Ethereum. Griffith is a researcher with the Ethereum Foundation in Switzerland. Cryptocurrency has been a popular investment area for local, Los Angeles area investors, who have been buoyed by the success of former local LA investors as Brock Pierce, now a "Bitcoin billionaire".