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US prosecutors oppose Ethereum dev’s motion to reduce 5-year sentence

In April 2022, a judge sentenced Virgil Griffith to 63 months in prison for violating U.S. sanctions on North Korea.

Officials with the United States Justice Department have written a letter opposing former Ethereum developer Virgil Griffith’s motion to reduce his 2022 sentence for violating sanctions on North Korea.

In a June 17 filing in the U.S. District Court for the Southern District of New York, U.S. Attorney Damian Williams argued that a judge should deny Griffith’s motion to reduce his sentence to as little as 51 months. A judge sentenced the former Ethereum developer to 63 months in prison and a $100,000 fine in April 2022, which, considering his time behind bars before the sentencing hearing, makes his expected release date in January 2026.

“Griffith chose to evade the sanctions of his own country to provide services to a hostile foreign power, specifically, services designed to teach and encourage the use of cryptocurrency and blockchain technology to further evade U.S. and United Nations sanctions,” said Williams. “Griffith acted despite knowing that North Korea was committing atrocities against its own people and had made threats against the United States, including nuclear capabilities.”

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UN Experts Say North Korea Laundered $147,500,000 in Stolen Crypto via Tornado Cash in March: Report

UN Experts Say North Korea Laundered 7,500,000 in Stolen Crypto via Tornado Cash in March: Report

Members of a United Nations expert panel monitoring North Korea sanctions reportedly found a link between the totalitarian state and the crypto mixer Tornado Cash. According to Reuters, a confidential document from the monitors told the U.N. Security Council sanctions committee that North Korea used Tornado Cash to launder $147.5 million worth of stolen crypto […]

The post UN Experts Say North Korea Laundered $147,500,000 in Stolen Crypto via Tornado Cash in March: Report appeared first on The Daily Hodl.

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279 Crypto Accounts Forfeited to US Government in North Korean Laundering Crackdown

279 Crypto Accounts Forfeited to US Government in North Korean Laundering CrackdownThe U.S. District Court for the District of Columbia has ordered the forfeiture of 279 cryptocurrency accounts containing funds linked to alleged hacks of crypto exchanges by North Korean operatives. This measure is a component of a broader U.S. effort aimed at dismantling cyber operations that finance North Korea’s nuclear and missile initiatives. The decision […]

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North Korean Lazarus Group laundered over $200M in hacked crypto since 2020

The notorious group of hackers used a combination of crypto mixers and peer-to-peer marketplaces to launder the stolen funds.

Lazarus Group, the infamous North Korean state-backed hackers, has laundered over $200 million worth of stolen crypto between 2020 and 2023.

The infamous group of hackers managed to launder over $200 million worth of stolen funds from over 25 crypto hacks, according to pseudonymous on-chain researcher ZachXBT’s April 29 X post.

Lazarus is among the most notorious groups of crypto hackers that first emerged in 2009. In total, the Lazarus Group has stolen over $3 billion in crypto assets in the six years leading up to 2023.

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North Korean Lazarus hacker group using LinkedIn to target and steal assets: Report

Lazarus group first surfaced in 2009, and since then, it has primarily targeted crypto firms, stealing billions of dollars worth of assets.

North Korean hacker group Lazarus is using LinkedIn to target vulnerable users and steal their assets via targeted malware attacks.

The incident came to light after blockchain security analytics firm SlowMist revealed that Lazarus group hackers are pretending to look for jobs as blockchain developers in the cryptocurrency industry through LinkedIn.

SlowMist claimed hackers steal confidential employee credentials after inviting access to their repository to run relevant code. The code snippets the hacker runs contain malicious code that steals confidential information and assets.

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Former Ethereum dev Virgil Griffith asks for resentencing in North Korea case

Griffith’s attorneys are asking for a sentence reduction from 63 months to 51 months or less.

Former Ethereum developer Virgil Griffith, who was handed a 63-month prison term in 2022 for assisting North Korea in using blockchain technology, has requested a sentence reduction. 

The plea was made in a letter from Glen Garrett McGorty, an attorney representing Virgil Griffith, to Judge Kevin Castel of the United States District Court for the Southern District of New York on April 17.

The letter requests that the court revise Griffith’s sentence based on newly enacted revisions to U.S. sentencing guidelines, which provide a two-point offense level reduction for certain “zero-point” offenders.

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Railgun denies being used by North Korea as it nears $1B total volume

Privacy protocol Railgun, which security analysts have labeled a “prime alternative” to Tornado Cash, denied U.S.-sanctioned entities are using it.

Crypto privacy protocol Railgun has denied being used by North Korea and other United States-sanctioned entities to launder cryptocurrency, arguing its zero knowledge-based tech prevents this and the accusations have “no evidence.”

It comes as the Railgun platform’s total volume nears the $1 billion mark, boosted by a recent X post from Ethereum co-founder Vitalik Buterin praising and defending the privacy protocol.

Railgun, founded in January 2021, uses zero-knowledge (ZK) cryptography to shield wallet balances, transaction history and transaction details allowing users to use decentralized apps (DApps) on Ethereum or other supported chains while remaining private.

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UN Report: Crypto Crime Provided North Korea up to Half of Its Foreign Currency Income

UN Report: Crypto Crime Provided North Korea up to Half of Its Foreign Currency IncomeA report issued by a United Nations panel of experts has concluded that cyber crypto heists have provided 50% of the foreign currency income for North Korea since 2017. The report indicated that North Korean actors have been linked to 17 theft and hack events involving over $750 million in 2023 alone, and details several […]

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Ethereum-Based Gaming Altcoin Leaps After Coinbase Listing Announcement

Ethereum-Based Gaming Altcoin Leaps After Coinbase Listing Announcement

An Ethereum (ETH)-based gaming altcoin is skyrocketing after being abruptly listed by Coinbase, the top US-based crypto exchange platform by volume. In a new announcement, Coinbase says that starting on March 21st, it will be adding support for Ronin (RON), a protocol developed by play-to-earn blockchain game developer Sky Mavis, the same team that created […]

The post Ethereum-Based Gaming Altcoin Leaps After Coinbase Listing Announcement appeared first on The Daily Hodl.

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