Following his arrest nearly three years ago, a Jury in a US federal district court found Roman Sterlingov, operator of the crypto mixer Bitcoin Fog, guilty of a four-count charge regarding money laundering.on March 12, the jury declared Roman Sterlingov guilty of money laundering conspiracy and sting money laundering. The 35-year-old Russian-Swedish Bitcoin Fog founder was also found guilty of operating an unlicensed money-transmitting venture and violations of the D.C. Money Transmitters Act.
Bitcoin Fog, which operated for a decade between 2011 and 2021, served as a money laundering tool for criminals looking to obfuscate their ill-gotten money. The crypto mixer moved over 1.2 million Bitcoin throughout its operation, which was worth close to $400 million at the time and is valued at $88 billion at BTC’s current price.
Meanwhile, Bitcoin Fog’s biggest clients, according to the government, were dark web markets such as Silk Road, AlphaBay, and Agora.“Darknet criminals should know by now that operations like Bitcoin Fog cannot provide the anonymity for cryptocurrency transactions that they claim they can. This conviction demonstrates that the United States can and will combat the use of technology to carry out crimes in cyberspace.
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Source: Utoday_en - 🏆 295. / 63 Read more »
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