A twin Russian-Swedish nationwide was sentenced to 12 years and 6 months behind bars on Friday, for serving to cybercriminals to launder their funds over a decade-long interval.
Roman Sterlingov, 36, ran the Bitcoin Fog crypto mixer from 2011 to 2021, processing 1.2 million bitcoin, valued at round $400m on the time of the transactions.
Most of those funds have been linked to darkish internet market transactions for medicine, computer-related crimes, id fraud and baby abuse materials, in accordance with the Division of Justice (DoJ).
Sentencing comes after a jury in March this yr discovered Sterlingov responsible of cash laundering conspiracy, cash laundering, working an unlicensed cash transmitting enterprise and cash transmission with out a license within the District of Columbia.
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“Roman Sterlingov laundered over $400m in legal proceeds by Bitcoin Fog, his cryptocurrency ‘mixing’ service that was open for enterprise to criminals seeking to conceal soiled cash,” stated principal deputy assistant lawyer common Nicole Argentieri, head of the Justice Division’s Legal Division.
“By means of his illicit cash laundering operation, Sterlingov helped criminals launder proceeds of drug trafficking, laptop crime, id theft, and the sexual exploitation of youngsters. At present’s sentencing underscores the Justice Division’s dedication to holding those that facilitate legal exercise totally accountable for his or her crimes.”
Sterlingov was additionally sentenced to pay over $395m and forfeit crypto and different property valued at $1.8m, in addition to his curiosity within the Bitcoin Fog pockets, which amounted to 1345 bitcoin valued at over $103m.
Crypto mixers are a well-liked manner for risk actors to cover the supply of their funds and throw blockchain investigators off the scent.
Legislation enforcers have for years been enjoying a recreation of whack-a-mole with the operators of such providers. In February 2023 it emerged that the “Blender” mixer, which had been used extensively by North Korean hackers, was renamed “Sinbad” in a bid to bypass sanctions and scrutiny.
Sterlingov was arrested in April 2021 after promoting Bitcoin Fog on a Twitter web page and thru a clearnet website.
