- Spanish national Alejandro Cao de Benós has been arrested in Madrid on suspicion of instructing North Koreans in how to evade US sanctions using cryptocurrencies
- Authorities allege he assisted Virgil Griffith, who was jailed for a similar crime last year
- Cao de Benós, apprehended at a Madrid train station, is also accused of potentially using false documentation in his efforts.
A Spanish national has been arrested in Madrid on suspicion of instructing North Koreans in how to evade US sanctions through the use of cryptocurrencies. Alejandro Cao de Benós faces the possibility of a 20-year prison sentence in the United States after being arrested over the charge, with authorities claiming that he assisted former Ethereum developer Virgil Griffith, who was jailed for the same crime last year. Cao de Benós, who was apprehended at a Madrid train station last Friday following an Interpol alert, is also accused of potentially employing false documentation to aid his efforts.
Links to Virgil Griffith
US authorities issued a warrant for Cao de Benós in 2022, asserting that he collaborated with Griffith to provide cryptocurrency and blockchain services to North Korea in violation of US sanctions. Last August, Griffith was sentenced to 63 months in prison and fined $100,000 after pleading guilty to conspiracy to violate the International Emergency Economic Powers Act, having attended a blockchain conference in Pyongyang where he informed attendees how to avoid sanctions through crypto.
According to the Spanish police, Cao de Benós, the founder of the Korean Friendship Association, organized multiple conferences on cryptocurrencies and blockchain in Pyongyang in 2018, allegedly helping North Korea bypass US sanctions in the process.
Cao de Benós released a statement on Saturday vehemently denying the charges, labeling them “totally false” and challenging the purported evidence linking him to Virgil Griffith. The case underscores the increasing scrutiny and legal consequences surrounding cryptocurrency activities with potential implications for international sanctions.
