Ethereum Developer Virgil Griffith Finally Released on Bail Under a $1M Bond

A Monday ruling by U.S. District Court Judge Vernon Broderick in New York means that if some pre-release conditions are met, then Ethereum developer, Virgil Griffith will be released from jail pending trial.

U.S authorities arrested Griffith in November for allegedly helping North Korea learn how to use cryptocurrencies and blockchain technology to evade sanctions, a move that fellow developer, Vitalik later described as ‘admirable.’

Although, a magistrate judge in an earlier court sitting in Los Angeles ordered his release, Southern New York District prosecutors acquired permission to stay his release. Griffth was then transported to Southern New York District, where a magistrate court judge ordered his detention pending trial.

In Monday’s court ruling, though, Judge Vernon Broderick ruled in favor and appeal for Griffith to be released on bail pending trial.

Brian Klein, the attorney representing Griffith, happily shared the news of his client’s release on Twitter:

Very pleased that earlier today a SDNY district court judge ordered my client Virgil Griffith released from jail pending trial, overturning the detention order of a SDNY magistrate judge.

— Brian Klein (@brianeklein) December 30, 2019

Another coverage of the development by  Matthew Russell Lee, founder of Inner City Press who covered the hearing live, revealed that Griffith would under the verdict, be released to his parent’s Tuscaloosa home under a $1 million bond secured by sister’s and parent’s houses

Other terms of the bail would include the Ethereum developer being able to use the computer with monitoring. He is also allowed to use his passport card and freely email his counsel, Brian Klein.