Bitcoin Fog operator sentenced in $400M laundering case
The U.S. Department of Justice (DOJ) announced a major development in the fight against darknet crime with the sentencing of Roman Sterlingov, the operator of Bitcoin Fog.
Sterlingov, who holds dual Russian-Swedish citizenship, was sentenced to 12 years and six months in prison for operating the longest-running Bitcoin (CRYPTO:BTC) mixing service on the darknet.
Bitcoin Fog, which operated from 2011 to 2021, facilitated over 1.2 million bitcoin transactions valued at over $400 million.
The DOJ highlighted that most of these transactions supported criminal activities such as narcotics trafficking, identity theft, and child exploitation through darknet marketplaces.
"Roman Sterlingov ran the longest-running bitcoin money laundering service on the darknet, and today he paid the price," commented Deputy Attorney General Lisa Monaco.
"Roman Sterlingov laundered over $400 million in criminal proceeds through Bitcoin Fog, his cryptocurrency 'mixing' service that was open for business to criminals looking to hide dirty money," added Principal Deputy Assistant Attorney General Nicole M. Argentieri.
The sentencing also includes significant financial repercussions.
“Today’s significant prison term and hundreds of millions in financial sanctions against the defendant emphasise the seriousness of this conviction,” emphasised Chief Guy Ficco of IRS Criminal Investigation.
As part of the judgment, Sterlingov was ordered to pay a forfeiture money judgment of $395,563,025.39 and to forfeit seized cryptocurrencies and monetary assets valued at approximately $1.76 million.
Additionally, Sterlingov must forfeit his interest in the Bitcoin Fog wallet, containing approximately 1,345 bitcoin, currently valued at over $103 million.
At the time of reporting, the Bitcoin price was $81,362.39.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Classic ($ETC) Eyes a 510% Breakout Rally
Ethereum Classic could surge over 510% to $127.65 as a major breakout pattern emerges.Why the $127.65 Target MattersShould You Pay Attention?

Doginme Made Early Buyers Rich—Now Arctic Pablo Coin Is Leading the Next Meme Coin Gold Rush
While Doginme showed how fast gains can arrive in meme markets, Arctic Pablo Coin is showing how they can be structured, incentivized, and sustainable.Doginme: The Meme Token That Ran With the Big DogsArctic Pablo Coin’s 66% APY: The Meme Coin Presale With Real UtilityIceberg Isle and the Numbers That Matter: $0.000125 Entry, 6,300% ROIArctic Pablo Coin Is Built for the Long Run: Why It Belongs Among the Top New Meme Coins for Exponential Returns

Goldman Sachs Increases Bitcoin ETF Holdings, Surpasses BlackRock

Ethereum’s Rise to $2.5K Sparks Renewed Altcoin Interest

Trending news
MoreCrypto prices
More








