Crypto, Crypto News, Crypto regulation, Crypto Regulations, Crypto Scam, Crypto scammer, Crypto scammers, crypto scams, Crypto Scheme, Cryptocurrency, Cryptocurrency regulation, Cryptocurrency Regulations, DeFi, Ponzi Crypto Scam, US crypto regulation

Spanish authorities have detained Alejandro Cao de Benos, a Spanish aristocrat, over allegations that he ran a crypto scheme and recruited Ethereum (ETH) researcher Virgil Griffith to help North Korea evade international sanctions. 

According to Reuters, the United States Department of Justice (DOJ) had previously accused de Benos, founder of a pro-Pyongyang affinity organization, of engaging in illegal activities related to crypto and blockchain technology services for North Korea.

Key Figure In North Korea Crypto Scheme Sentenced To Prison As reported by Bitcoinist, in 2022, Virgil Griffith was sentenced by a US court to five years and three months in prison for his involvement in conspiring to aid North Korea in evading US sanctions using crypto. It is alleged that de Benos played a pivotal role in recruiting Griffith for these activities.

Responding to the US accusations, de Benos took to the social media platform X (formerly Twitter) to describe the allegations against him as false. 

de Benos stated that upon his arrival at the AVE station in Puerta de Atocha, Madrid, on Thursday, November 30, 2023, he was approached by national police officers from Pasiano who arrested him based on an FBI arrest warrant issued through Interpol. 

De Benos firmly denied any involvement in hiring or requesting the services of the crypto researcher Virgil Griffith and maintained that there was no evidence to support such claims.

According to Spanish national police, they received information indicating that de Benos was in Barcelona under a false identity and planning to travel to Madrid by train. 

Extradition Process Initiated  On Friday, de Benos appeared before a Supreme Court judge who released him without conditions pending the extradition process, a judicial source confirmed to Reuters. 

The source further explained that the United States must formalize the extradition request and provide the necessary documentation for the process to proceed. de Benos further stated on the matter: 

There is no extradition. The US accusation, besides being false, does not exist in Spain. 

The identities of de Benos’ legal representatives are yet to be identified. If convicted, de Benos could face up to 20 years in prison. However, the extradition process and subsequent legal proceedings must occur before any final determination is made.

The 1-day chart shows the total crypto market cap’s sustained uptrend. Source: TOTAL on The global cryptocurrency market has reached a significant milestone, with its market capitalization surpassing $1.5 trillion. According to data from CoinGecko, this represents a 2.63% change in the last 24 hours and a substantial 78.18% change compared to the market cap one year ago.

Bitcoin (BTC), the pioneering cryptocurrency, continues to play a dominant role in the market. Today, Bitcoin’s market cap stands at an impressive $814 billion, accounting for 51.01% of the total cryptocurrency market. 

Featured image from Shutterstock, chart from 

Sign Up for Our Newsletter! For updates and exclusive offers enter your email.

Ronaldo Marquez Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Leave a Reply

Your email address will not be published. Required fields are marked *


February 2024


Recent Comments