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Russian and Swedish citizen Roman Sterlingov, previously found guilty of running the Bitcoin Fog cryptocurrency mixer from 2011 to 2021, was sentenced to 12 years in prison for aiding money laundering.
Recall that this spring, Sterlingov was found guilty of running the Bitcoin Fog crypto mixer from 2011 to 2021. According to law enforcement, during this time, 1.2 million bitcoins (approximately $400 million at the exchange rate at the time of the transactions) passed through the service.
Some of these bitcoins were linked to various criminal activities. Most of the cryptocurrency was reported to have come from darknet marketplaces and was associated with drug trafficking, computer crimes, identity theft, and child sexual abuse.
At the time, the US Department of Justice called Bitcoin Fog the longest-lived cryptocurrency mixer on the darknet, which allowed cybercriminals to effectively hide the sources of their cryptocurrency income.
Now Sterlingov has been sentenced not only to 12 years in prison (although the maximum punishment could have been up to 20 years in prison), but also to pay compensation in the amount of $395.56 million, as well as the seizure of cryptocurrency and monetary assets totaling about $1.76 million.
In addition, he was ordered to hand over to the authorities his share in the Bitcoin Fog wallet, which currently holds 1,345 bitcoins (more than $103 million at the current exchange rate).
Recall that throughout almost the entire trial, Sterlingov himself insisted on his innocence, accusing the US authorities of using “pseudoscience” and unreliable methods of blockchain analysis when tracking bitcoins and studying transactions.
Recall that this spring, Sterlingov was found guilty of running the Bitcoin Fog crypto mixer from 2011 to 2021. According to law enforcement, during this time, 1.2 million bitcoins (approximately $400 million at the exchange rate at the time of the transactions) passed through the service.
Some of these bitcoins were linked to various criminal activities. Most of the cryptocurrency was reported to have come from darknet marketplaces and was associated with drug trafficking, computer crimes, identity theft, and child sexual abuse.
At the time, the US Department of Justice called Bitcoin Fog the longest-lived cryptocurrency mixer on the darknet, which allowed cybercriminals to effectively hide the sources of their cryptocurrency income.
Now Sterlingov has been sentenced not only to 12 years in prison (although the maximum punishment could have been up to 20 years in prison), but also to pay compensation in the amount of $395.56 million, as well as the seizure of cryptocurrency and monetary assets totaling about $1.76 million.
In addition, he was ordered to hand over to the authorities his share in the Bitcoin Fog wallet, which currently holds 1,345 bitcoins (more than $103 million at the current exchange rate).
Recall that throughout almost the entire trial, Sterlingov himself insisted on his innocence, accusing the US authorities of using “pseudoscience” and unreliable methods of blockchain analysis when tracking bitcoins and studying transactions.