Bitcoin Fog Founder Roman Sterlingov Sentenced to 12.5 Years for Laundering $400M

Nov 9, 2024, 12:00 AM

Roman Sterlingov, the founder of the cryptocurrency mixing service Bitcoin Fog, has been sentenced to 12.5 years in prison. Sterlingov, a dual Russian-Swedish national, was convicted for laundering tens of millions of dollars from darknet markets that sold illegal drugs. The U.S. Department of Justice reported that Bitcoin Fog laundered approximately $400 million in cryptocurrency since its inception in 2011 to 2021. The government is now seizing the remaining Bitcoin Sterlingov possesses, while billions of dollars allegedly made through Bitcoin Fog remain unaccounted for.