Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitcoin Fog Crypto Mixer Founder Sentenced to 12,5 Years in Prison

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

HappyCoinNewsHappyCoinNews2024/11/10 03:00
By:HappyCoinNews

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.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

AI models master capabilities long before exhibiting them, research shows

Share link:In this post: Research has shown that AI models master capabilities long before they exhibit them. Researchers claim the models can internalize concepts long before exhibiting them. Researchers reveal different methods to reveal hidden capabilities.

Cryptopolitan2024/11/24 22:00

AI can be used to promote jobs, not be a replacement, says AWS vice president

Share link:In this post: AI will take over boring tasks, giving people more time to focus on creative and innovative work. Workers need to learn new skills to adapt to the growing use of AI. AI will work with humans to improve industries like customer service, healthcare, and more.

Cryptopolitan2024/11/24 22:00