NEW YORK (Reuters) – A U.S. digital currency expert who was arrested last week for allegedly aiding North Korea in violation of sanctions told acquaintances last year that he thought it would be “really cool” if the reclusive state mined cryptocurrency ether, according to one person with direct knowledge of the matter. The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) are seen on the display of a cryptocurrency ATM of blockchain payment service provider Vaerdex at the headquarters of Swiss Falcon Private Bank in Zurich, Switzerland May 29, 2019. REUTERS/Arnd Wiegmann Virgil Griffith, 36, a U.S. citizen who works for the Ethereum Foundation, told fellow digital currency experts in April 2018 about his intention to arrange the delivery into North Korea of equipment to create ether, two sources told Reuters at the time. Cryptocurrencies, like bitcoin and ether, are created through a computer process called mining, which requires powerful hardware. Once generated, they can be exchanged on anonymous online platforms for fiat currencies such as the U.S. dollar, which in turn can help illicit activities like evading sanctions or laundering money. One of the sources said Griffith said it would… Read full this story
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