Bitcoin Fog Founder Sentenced to 12.5 Years

Roman Sterlingov, founder of the cryptocurrency mixing service Bitcoin Fog, has been sentenced to 12.5 years in prison for laundering over $400 million in criminal proceeds. The U.S. District Court ruling also included a forfeiture of $395 million in assets, encompassing seized cryptocurrencies and his interest in a Bitcoin wallet containing over $103 million. Sterlingov operated Bitcoin Fog from 2011 to 2021, allowing users to obscure the origins of digital currency transactions, primarily linked to illegal activities such as drug trafficking and identity theft. His conviction followed a jury trial in March, where he was found guilty on multiple charges including money laundering conspiracy. Deputy Attorney General Lisa Monaco emphasized the Justice Department's commitment to dismantling criminal networks that exploit technology for illicit activities. This case exemplifies ongoing efforts by law enforcement to pursue cybercriminals operating in the shadows of the internet.