Cryptocurrency

Bitcoin

Million

<ul class="wp-block-list">
 <li>Bitcoin Fog’s founder was sentenced to 12.5 years for laundering $400M, highlighting crypto crime penalties.</li>  
 <li>Court orders $395M forfeiture from Bitcoin Fog operator, signaling crackdown on illicit crypto mixing services.</li>  
 <li>Judge imposes 12.5 years on Bitcoin Fog founder, stressing deterrence for untraceable cryptocurrency operations.</li> 
</ul>  
<p>Roman Sterlingov, founder of Bitcoin Fog, has been sentenced to 12.5 years in prison by a federal court in Washington. U.S. District Judge Randolph Moss made his ruling after Sterlingov was convicted of running a giant cryptocurrency mixing service. Bitcoin Fog helped launder more than $400 million in criminal proceeds through hidden transactions.</p>  
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<p>The court also ordered the forfeiture of $395 million, including seized cryptocurrency assets. This forfeiture underscores the Justice Department’s strong stance against illicit cryptocurrency activity.</p>  
<h2 class="wp-block-heading" id="h-bitcoin-fog-s-role-in-criminal-activities"><strong>Bitcoin Fog’s Role in Criminal Activities</strong></h2>  
<p>Russian Swiss national Roman Sterlingov was <a href="https://cryptonewsland.com/roman-sterlingov-battles-30-year-prison-term-in-bitcoin-fog-case/" target="_blank" rel="noopener noreferrer nofollow">convicted of money laundering</a>, conspiring to launder money and operating an unregistered money transmitting business. Bitcoin The site allowed criminals to mask illegal proceeds, including money from drug trades on darknet markets.</p>  
<p>Bitcoin Fog operated by mixing digital assets, making individual transactions harder to trace. Prosecutors presented this service as a hub for money laundering on a large scale, noting that it functioned for nearly a decade.&nbsp;</p>  
<p>The service’s structure, they argued, supported criminal activities and hindered law enforcement efforts to track illicit financial flows.</p>  
<p>In a statement, Principal Deputy Assistant Attorney General Nicole M. Argentieri said that Sterlingov laundered over $400 million in criminal proceeds through <a href="https://bitcoin.org/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> Fog. Moreover, she emphasized the Justice Department's commitment to prosecuting individuals who enable criminal activity through untraceable financial services.</p>  
<h2 class="wp-block-heading" id="h-judge-s-consideration-of-deterrence"><strong>Judge’s Consideration of Deterrence</strong></h2>  
<p>Judge Moss imposed a <a href="https://www.bloomberg.com/news/articles/2024-11-08/crypto-mixer-gets-150-months-for-bitcoin-fog-money-laundering?utm_campaign=socialflow-organic&amp;utm_content=crypto&amp;utm_source=twitter&amp;utm_medium=social&amp;embedded-checkout=true" rel="noopener noreferrer nofollow">sentence</a> lower than the 30 years requested by prosecutors. However, the prosecution had argued for a severe penalty due to its’s long-term facilitation of large-scale money laundering.&nbsp;</p>  
<p>Despite the prosecution’s request, Judge Moss noted that a life sentence was excessive. However, he underscored the importance of deterrence within the cryptocurrency industry, where following the money remains a challenge.</p>  
<p>During the sentencing, Sterlingov expressed regret. In addition, his defense had argued for a 7.5-year sentence, claiming insufficient direct evidence linking him to Bitcoin Fog’s operation. Attorney Tor Ekeland argued there were no service logs or eyewitness accounts proving Sterlingov’s control of the mixing service.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-fog-founder-sentenced-to-12-5-years-for-laundering/" rel="noopener noreferrer nofollow">Bitcoin Fog Founder Sentenced to 12.5 Years for Laundering $400 Million in Cryptocurrency</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Fog Founder Sentenced to 12.5 Years for Laundering $400 Million in Cryptocurrency

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