Court Denies Bail for Former Monero Dev Ricardo Spagni

Reading Time: < 1 minute

A US court has denied former lead Monero developer Ricardo “Fluffypony” Spagni on bail as he might escape, News24 has reported.

According to the publication, the court has accepted the prosecutor’s arguments about Spagni’s owning cryptocurrencies, which could allow him to escape from the authorities.

The developer did not provide evidence of the absence of such a risk.

On July 21, the US authorities detained Spagni at the Nashville airport at the request of the South African authorities, who had accused him of stealing $100,000 when working in the South African company Cape Cookies between 2009 and 2011.

Spagni faces up to 20 years in prison. South Africa can apply to the United States to consider the extradition of the developer until September 19, 2021.

Spagni has noted that he was detained “for contempt of court,” and explained the incident is “a misunderstanding in the old case.”

If you like our content and want to support us, please follow us on X, Facebook and Instagram and don’t miss the latest news!