Catenaa, Monday, November 11, 2024-The US Department of Justice (DOJ) announced Friday the sentencing of Roman Sterlingov, the operator of Bitcoin Fog, the darknet’s longest-running Bitcoin mixing service.
Sterlingov, a dual Russian-Swedish national, received a prison term of 12 years and six months for laundering criminal proceeds through the BTC mixing service from 2011 to 2021.
Bitcoin Fog facilitated over 1.2 million Bitcoin transactions, valued at more than $400 million, primarily serving criminal enterprises in darknet marketplaces. Users exploited the service for activities such as drug trafficking, identity theft, and child exploitation, the DOJ reported.
Deputy Attorney General Lisa Monaco condemned Sterlingov’s decade-long operation, emphasizing its impact on enabling illicit finance.
In addition to the prison sentence, Sterlingov faces financial penalties, including a forfeiture money judgment of approximately $395.6 million. He also forfeits ownership of the Bitcoin Fog wallet, which holds around 1,345 Bitcoin, now valued at over $103 million.
IRS Criminal Investigation Chief Guy Ficco underscored the severity of Sterlingov’s crimes, stating that the sentence and financial penalties highlight the DOJ’s commitment to dismantling illegal financial networks.
The prosecution marks a significant victory for federal authorities in their ongoing battle against cryptocurrency-facilitated crime on the darknet.
Bitcoin surged to a record high of over $76,000 on Wednesday, November 5, the day after US election in which Donald Trump won.
