Bitcoin Fog Founder Convicted in Landmark Crypto Laundering Case

Roman Sterlingov faces up to 20 years in prison after a federal jury found him guilty of laundering over $860 million through the Bitcoin Fog service.

• Roman Sterlingov, a dual Russian-Swiss citizen, was convicted of operating the Bitcoin Fog crypto mixer, laundering over 1.2 million bitcoins tied to darknet marketplaces.
• The conviction marks a significant victory for U.S. authorities in their efforts to combat illicit crypto finance, with Sterlingov facing up to 20 years in prison.
• Sterlingov's trial featured testimony from other convicted crypto criminals, highlighting the interconnected nature of illegal cryptocurrency operations.
• Authorities utilized advanced blockchain analysis techniques to trace the laundered funds, demonstrating the diminishing anonymity for illicit crypto transactions.
• The case against Sterlingov is expected to influence upcoming trials of other individuals involved in similar crypto mixing services.

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Blockworks CoinDesk U.S. Department of Justice The Block