Bitcoin

April

Tornado

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Roman Sterlingov, founder of Bitcoin Fog, was convicted of money laundering in a U.S. District Court.</li>
 <li>The service laundered over 1.2 million Bitcoin (BTC), primarily from illicit activities, over a decade-long operation.</li>
</ul>
Roman Sterlingov, the creator of the crypto-mixing service Bitcoin Fog, was found guilty of money laundering in a U.S. District Court.
This is another significant victory for the government in its efforts to clamp down on crypto mixers and their founders.
<h2 id="sterlingov-s-conviction">Sterlingov’s Conviction</h2>
Sterlingov, 35, was convicted of money laundering, money laundering conspiracy, operating an unlicensed money-transmitting business, and violations of the D.C. Money Transmitters Act.
Despite his conviction, Sterlingov maintained that he was merely a user of the service, not its operator.
His legal team, led by attorney Tok Ekeland, plans to appeal the verdict.
Evidence presented at the trial showed that Sterlingov ran <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> Fog from October 2011 to April 2021.
The service was used as a money laundering platform for criminals attempting to hide their illegal earnings from law enforcement.
<h2 id="details-of-the-operation">Details of the Operation</h2>
The service moved over 1.2 million Bitcoin, valued at $400 million at the time of the transactions, during its decade-long operation.
The majority of the cryptocurrency came from darknet marketplaces associated with narcotics, computer fraud abuse, and identity theft.
Bitcoin Fog also provided services to distributors of child sexual abuse material.
Evidence used to convict Sterlingov revealed that the majority of crypto deposited into his exchange accounts came from Bitcoin clusters associated with Bitcoin Fog.
The jury has approved the forfeiture of assets seized from the crypto mixer, including 1,354 BTC in a Bitcoin Fog wallet and nearly $350,000 in various cryptocurrencies in a seized Kraken account.
The most severe charges, money laundering conspiracy and money laundering, each carry a maximum sentence of 20 years in prison.
The other two charges carry a maximum sentence of five years in prison.
Sterlingov’s sentencing is scheduled for July 15.
Another crypto mixer founder, Roman Storm, co-founder of the controversial cryptocurrency mixer Tornado Cash, is due to face a criminal trial in September.
Storm faces three charges of conspiracy to commit money laundering, conspiracy to operate an unlicensed money-transmitting business, and conspiracy to violate the International Emergency Economic Powers Act.
He has pleaded not guilty to all charges.

Jury Verdict: Bitcoin Fog Founder Convicted in Major Crypto Money Laundering Case

目錄

crypto.ro global

在 2024年3月13日發表的其他文章

Milei Moneda Presale Moves With Conviction as XRP Holders Struggle With Slow Momentum

Top Reasons Why Shiba Inu (SHIB) Price Could Hit $0.01 Soon

Gate.io’s Reserves Soar Past $6 Billion with $820 Million Surplus, Highlighting Robust Digital As...

Bitcoin Tops $73,000; Toncoin, THORChain Among Top Gainers

3 Altcoin Trades to Make MAXIMUM gains

5 Layer 2 Crypto To Buy Aiming 100X After Ethereum Dencun Upgrade

訂閱免費電子報，每天收取加密貨幣最新動態！