The founding father of the longest-running crypto mixer on the darknet has simply been ordered to serve 12 years and 6 months in jail.
In an announcement, the U.S. Division of Justice (DOJ) says Roman Sterlingov was sentenced for working the cryptocurrency mixer Bitcoin Fog, which laundered a whole bunch of tens of millions of {dollars} in digital belongings 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) price roughly $400 million on the time of the transactions.
The DOJ says the funds had been principally from darknet marketplaces and legal actions linked to unlawful narcotics, pc crimes, id theft and different illicit acts.
Sterlingov was sentenced following a one-month jury trial earlier this 12 months, which discovered him responsible of cash laundering conspiracy, cash laundering, working an unlicensed cash transmitting enterprise and cash transmission with no license.
Says US Lawyer Matthew M. Graves for the District of Columbia,
“As we speak’s sentence sends an unmistakable message: those that assist criminals with on-line funds for his or her unlawful actions will face critical penalties. This prosecution additionally gives extra proof that we’ve got the expert investigators and proficient prosecutors wanted to carry those that function these darknet websites accountable.”
Along with the jail time period, Sterlingov was ordered to pay a forfeiture cash judgment of $395.5 million and forfeit $1.76 million price of crypto and financial belongings. He was additionally ordered to forfeit his curiosity in a Bitcoin Fog pockets holding roughly 1,345 BTC price over $103 million.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Verify Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses it’s possible you’ll incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please notice that The Day by day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney
