Crypto Mixer Founder Convicted for Money Laundering Charges

Wednesday, 13 March 2024, 15:00
Roman Sterlingov, founder of Bitcoin Fog, faces up to 20 years in prison for money laundering conspiracy and operating an unlicensed money-transmitting business. The significant conviction highlights law enforcement's efforts to combat digital financial crimes and the substantial financial implications of crypto transactions.

Crypto Founder Faces up to 20 Years in Prison for Money Laundering Charges

Roman Sterlingov, the founder of crypto mixer – Bitcoin Fog, faces up to 20 years in prison. A jury in the US District Court for the District of Columbia delivered this verdict, marking a significant moment in the fight against digital financial crimes.

Crypto Mixer Founder Faces Money Laundering Charges

  • 35-year-old Sterlingov found guilty of money laundering conspiracy and operating an unlicensed money-transmitting business.
  • Court ordered forfeiture of assets including over 1,354 Bitcoin and other cryptocurrencies.
  • Bitcoin Fog, operated from 2011 to 2021, processed transactions worth nearly $400 million.

Darknet criminals should know that operations like Bitcoin Fog cannot provide the anonymity for cryptocurrency transactions they claim. This conviction demonstrates the US can combat technology-enabled crimes.

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