The founder of the longest-running crypto mixer on the darknet has just been ordered to serve 12 years and six months in prison.

In a statement, the U.S. Department of Justice (DOJ) says Roman Sterlingov was sentenced for operating the cryptocurrency mixer Bitcoin Fog, which laundered hundreds of millions of dollars in digital assets for a decade. 

Prosecutors say that the 36-year-old operated Bitcoin Fog from 2011 to 2021 when it processed over 1.2 million Bitcoin (BTC) worth approximately $400 million at the time of the transactions. 

The DOJ says the funds were mostly from darknet marketplaces and criminal activities linked to illegal narcotics, computer crimes, identity theft and other illicit acts.

Sterlingov was sentenced following a one-month jury trial earlier this year, which found him guilty of money laundering conspiracy, money laundering, operating an unlicensed money transmitting business and money transmission without a license.

Says US Attorney Matthew M. Graves for the District of Columbia,

“Today’s sentence sends an unmistakable message: those who help criminals with online payments for their illegal activities will face serious penalties. This prosecution also provides more proof that we have the skilled investigators and talented prosecutors needed to hold those who operate these darknet sites accountable.”

In addition to the prison term, Sterlingov was ordered to pay a forfeiture money judgment of $395.5 million and forfeit $1.76 million worth of crypto and monetary assets. He was also ordered to forfeit his interest in a Bitcoin Fog wallet holding approximately 1,345 BTC worth over $103 million.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Founder of Crypto Mixer Bitcoin Fog Sentenced to Over 12 Years in Prison on Money Laundering Charges appeared first on The Daily Hodl.

The founder of the longest-running crypto mixer on the darknet has just been ordered to serve 12 years and six months in prison.

In a statement, the U.S. Department of Justice (DOJ) says Roman Sterlingov was sentenced for operating the cryptocurrency mixer Bitcoin Fog, which laundered hundreds of millions of dollars in digital assets for a decade. 

Prosecutors say that the 36-year-old operated Bitcoin Fog from 2011 to 2021 when it processed over 1.2 million Bitcoin (BTC) worth approximately $400 million at the time of the transactions. 

The DOJ says the funds were mostly from darknet marketplaces and criminal activities linked to illegal narcotics, computer crimes, identity theft and other illicit acts.

Sterlingov was sentenced following a one-month jury trial earlier this year, which found him guilty of money laundering conspiracy, money laundering, operating an unlicensed money transmitting business and money transmission without a license.

Says US Attorney Matthew M. Graves for the District of Columbia,

“Today’s sentence sends an unmistakable message: those who help criminals with online payments for their illegal activities will face serious penalties. This prosecution also provides more proof that we have the skilled investigators and talented prosecutors needed to hold those who operate these darknet sites accountable.”

In addition to the prison term, Sterlingov was ordered to pay a forfeiture money judgment of $395.5 million and forfeit $1.76 million worth of crypto and monetary assets. He was also ordered to forfeit his interest in a Bitcoin Fog wallet holding approximately 1,345 BTC worth over $103 million.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Founder of Crypto Mixer Bitcoin Fog Sentenced to Over 12 Years in Prison on Money Laundering Charges appeared first on The Daily Hodl.