Ethereum developer Virgil Griffith is likely to spend the next two months in jail for allegedly accessing his crypto account in Coinbase. After allegedly accessing his Coinbase account in the month of May, US District Judge P. Kevin Castel issued the remand order of Virgil spending the next two months behind the bars.
As reported recently, the Ethereum Foundation researcher is scheduled to be appearing for his trial on September 21 on the charges of conspiracy to contravene retributions with North Korea and faces up to 20 years inside.
In accordance with Law 360, the major concern of the District Judge was flight risk since the assets held by Virgil Griffith surged in value into the range of $1 million, which may have affected his decision to check the wallet.
As per the charges, he allegedly accessed Coinbase in order to establish contact with the exchange to ask for the removal of account security functions. He reportedly said:
Back on January 7, 2020, Griffith was charged and summoned following his arrest in the month of November of the year 2019 for the conspiracy in order to violate the IEEPA, the International Emergency Economic Powers Act.
As believed by the Federal Authorities, Griffith was involved in the efforts of assisting North Korea to launder money by utilizing the cryptocurrency in order to avoid the US sanctions after he attended a blockchain conference in Pyongyang in the month of April of the year 2019.
In addition to this, Griffith claimed in a motion that he filed for the dismissal of the conspiracy charges that he was not providing a service to the North Korean officials.