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Bitcoin Fog Crypto Mixer Founder Sentenced to 12,5 Years in Prison

Bitcoin Fog Crypto Mixer Founder Sentenced to 12,5 Years in Prison

HappyCoinNews2024/11/10 03:00
By: HappyCoinNews
BTC-0.83%TORN0.00%

US Court Sentences Roman Sterling, Founder of Darknet's Oldest Cryptocurrency Mixer Bitcoin Fog, to 12,5 years in prison. While that's a hefty sentence, it's still less than the 20- to 30-year sentence prosecutors had sought for Sterling after a jury found him guilty of money laundering and operating without a license.

According to the US Department of Justice, during its “decade of work Bitcoin Fog has gained a bad reputation as a money laundering service for criminals. The crypto mixer has become a place where criminals "hid their illegal proceeds" from law enforcement. According to police, the service has processed nearly $400 million in transactions since its inception.

In addition to the prison sentence, Sterling must pay a fine totaling $395,5 million and return assets worth $1,76 million.

Now the government is confiscating the few bitcoins he has left, while the billions of dollars he made running Bitcoin Fog, remain unaccounted for, the U.S. Justice Department said in a statement.

Throughout the trial, Roman Sterlingov maintained that he was merely a user Bitcoin Fog, not its operator.

Sterling's trial comes amid other U.S. government crackdowns on crypto mixers. In 2023, U.S. prosecutors charged Tornado Cash co-founders Roman Shtrom and Roman Semenov with conspiracy to launder money, violating sanctions, and operating without a license. Shtrom's trial has been postponed until April 2025.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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