Bitcoin

Mastermind

Tornado Cash

Tornado

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-mixer-mastermind-convicted-for-multi-million-dollar-laundering-scheme" rel="noopener noreferrer nofollow">Crypto Mixer Mastermind Convicted for Multi-Million Dollar Laundering Scheme</a><br></p>
<p style="text-align: justify">Roman Sterlingov, the mastermind behind the <a href="https://en.bitcoinhaber.net/embracing-investment-opportunities-in-market-slumps" rel="noopener noreferrer nofollow">cryptocurrency</a> mixing service <a href="https://en.bitcoinhaber.net/anthony-scaramucci-a-key-player-in-the-evolving-crypto-investment-landscape" rel="noopener noreferrer nofollow">Bitcoin</a> Fog, was recently convicted for laundering massive sums of money linked to darknet marketplaces. The 35-year-old faced a Washington federal jury, which found him guilty on all counts after two days of consideration. Sterlingov, who faced charges since 2021, could face a prison term of up to 20 years.</p>
<h2 id="details-of-the-verdict">Details of the Verdict</h2>
<p style="text-align: justify">The trial revealed that Bitcoin Fog funneled hundreds of millions of dollars, with $78 million directly traced to darknet markets. Despite Sterlingov’s denial of his involvement with Bitcoin Fog, evidence presented, including testimonies from convicted crypto criminals such as Ilya Lichtenstein and Larry Harmon, linked him to the operation. Lichtenstein disclosed his part in a conspiracy to launder money from the 2016 Bitfinex <a href="https://en.bitcoinhaber.net/rising-crypto-phishing-scams-a-warning-for-investors" rel="noopener noreferrer nofollow">hack</a>, while Harmon admitted to running a similar Bitcoin mixer, Helix.</p>
<h2 id="regulatory-scrutiny-on-crypto-activities">Regulatory Scrutiny on Crypto Activities</h2>
<p style="text-align: justify">Sterlingov’s defense claimed a lack of evidence proving his operation of Bitcoin Fog, and the defendant himself professed no memory of ever creating the domain for the service. However, crypto mixing services are facing increased legal attention, with entities like Tornado Cash and Sinbad facing sanctions from the US Treasury Department. The actions taken reflect a growing concern among regulators and lawmakers over the anonymity and difficulty in tracking money flows in the crypto sector.</p>
<p style="text-align: justify">The conviction of Roman Sterlingov marks a significant step in the crackdown on illicit activities within the cryptocurrency market. With multiple countries, including the US and UK, pursuing stringent legal actions to address the challenges posed by crypto transactions, the Sterlingov case is a testament to the increasing efforts to regulate the digital currency landscape effectively.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-mixer-mastermind-convicted-for-multi-million-dollar-laundering-scheme" rel="noopener noreferrer nofollow">Crypto Mixer Mastermind Convicted for Multi-Million Dollar Laundering Scheme</a></h5>

Crypto Mixer Mastermind Convicted for Multi-Million Dollar Laundering Scheme

Table of Contents

BH NEWS

Other articles published on Mar 12, 2024

Mysterious XRP Whale Who Keeps Withdrawing Millions From Binance Revealed

Forget ScapesMania! BlockDAG’s $3.2M Presale is the New Crypto Craze

VeChain and Kaspa Lags But Scorpion Casino Shows How to Make Money with Crypto in the Bull Run

Ethereum Quantum Leap: How Vitalik Buterin Fortifies The Future Of Finance

Toncoin Rises More Than 15% In 24 hours

Surge in Toncoin’s Market Value Attracts Investor Attention

Join our free newsletter for daily crypto updates!