The reporter allegedly claimed that Virgil Griffith is likely to spend two months in jail, as his case will be put forward to court for hearing in September. The Ethereum developer is accused of violating the security protocols of his bail and accessed his Coinbase account. The remand order was provided by U.S. District Judge P. Kevin Castel after Griffith is caught redhandedly accessing his Coinbase account in May.
The Ethereum founder is sent to jail for his offense. Griffith was accused of breaching sanctions with North Korea.
According to Law360, Judge Castel said that the main concern for regulatory authorities was a flight risk since Griffith’s digital assets risen to the $1millon range. The judge further added that this could be the reason he tried to check into his crypto account. His bail terms strictly prohibited the use of the internet of any form at any cost. The prosecutor on 9th July announced that Griffith is caught accessing his account. Griffith accessed his account and contacted Coinbase and asked them to remove the security protocols attached with his account. He said to exchange that they need to remove the two factors authentication associated with his account.
Since his device was kept by the FBI there was no way for him to fulfill the two factors authentication security protocol. However, in response to these accusations, the defense lawyer pleads that the attempt to access his account was made after having a detailed consultation with his counsel. The defense lawyer also added that it was not his client who tried to access his account. But the attempts were made by his family based in Alabama.
Griffith was initially arrested in November 2019. He got convicted by the court on January 7, 2020. The court stated in its detailed decision that Mr. Griffith’s involvement in violating the International Emergency Economic Powers Act is proven with clear-cut evidence. The court further rejected his bail initially. However, later on, bale was granted to him against submitting the bond order for $1 million.
The U.S federal agencies are convinced that he helped North Korea to launder the money using his cryptocurrency circle and expertise to avoid the sanctions. He discussed this with a North Korean representative during a conference in Pyongyang. The defense lawyer labeled these accusations as a conspiracy theory against his client. Griffith further moved a petition against these allegations. Griffith argued that all the information about that conference and his traveling activities are easily accessible by the public, therefore there were no secret discussions, and neither was he providing any services to any country. The claims against him are fabricated his Layer said. However, hearings will resume in the coming month of September.