Bitcoin Fog Founder Sentenced To 12.5 Years for $400M Crypto Laundering Scheme

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Bitcoin Fog Founder Sentenced To 12.5 Years for $400M Crypto Laundering Scheme - CoinGape

Quick Summary:

Bitcoin Fog founder Roman Sterlingov has been sentenced to 12.5 years in prison for operating a major cryptocurrency mixing service that laundered over $400 million in criminal proceeds. The Washington federal court ruling was handed down by U.S.

Prosecutors had argued for a severe penalty due to the prolonged and extensive nature of the scheme.“This is criminal activity of a staggering scale over a prolonged period of time,” said prosecutor Christopher Brown.

The sentencing of Sterlingov comes amid scrutiny of the crypto industry, as other high-profile cases involving fraud and money laundering unfold.