US cryptocurrency promoter charged after advising North Korea

A prominent American cryptocurrency promoter and former hacker was charged with sanctions violations Friday after he allegedly advised North Korea on using virtual money to avoid international controls.

Virgil Griffith, 36, who lives in Singapore and works for the blockchain and cryptocurrency developer Ethereum, was arrested at Los Angeles International Airport on Thursday, the Justice Department said.

He attended a conference on blockchain and virtual currencies in Pyongyang in April, where he spoke about how to use both technologies “to evade sanctions,” the department said.Doing so violated US Treasury bans on “exporting any goods, services, or technology” to North Korea, put in place in response to the country’s nuclear weapons program.

The department said North Korean officials at the conference appeared to show particular interest in Griffith’s presentation.After the conference, it said, Griffith “began formulating plans to facilitate the exchange of cryptocurrency between the DPRK and South Korea.”