Bitcoin Fog Crypto Mixer Operator Gets 12.5 Years in Prison
Date: 2024-11-11 Author: Gabriel Deangelo Categories: BUSINESS
In March of this year, a jury found Sterlingov guilty on a number of charges, including conspiracy to launder funds, direct participation in money laundering, and organizing an unlicensed financial service. Sterlingov did not admit his guilt and expressed disagreement with the verdict. At a hearing on November 8, he expressed regret about the possible damage from his actions and promised to “become a better person,” Bloomberg reports.
In addition to the prison sentence, the court ordered Sterlingov to pay a fine of $395.5 million and surrender his assets in Bitcoin Fog in the amount of 1,345 BTC (about $103 million). As part of the case, $1.76 million in cryptocurrency was also confiscated from him.
Deputy Attorney General Lisa Monaco noted that Sterlingov ran one of the longest-running money laundering services on the darknet. According to her, this service was a haven for criminals of all types, from drug dealers to identity thieves, helping them hide hundreds of millions of dollars in criminal proceeds.
It is worth noting that in May, the court found the developer of another popular crypto mixer Tornado Cash, Alexey Pertsev, guilty of laundering $1.2 billion and sentenced him to 64 months in prison. The trial of Tornado Cash co-founder Roman Shtorm was postponed until April 14, 2025.
In addition, another Tornado Cash co-founder, Roman Semenov, is also accused of money laundering and violating US sanctions. At the moment, he remains at large, but is included in the sanctions list.
