Crypto Mixer Jailed For 12.5 Years After $400M Money Laundering Conviction

Quick Summary:

The founder of a crypto mixing platform will end up in a US prison cell and will call it home for 12.5 years after a federal court ruled that the crypto firm owner was guilty of money laundering.

The 12-year imprisonment seems to be a lighter sentence as compared to the 30-year prison term being suggested by the US government and the maximum 50-year sentence stipulated in the US guidelines.

Moss also ordered the 36-year-old entrepreneur to sequester his $395 million assets and interest amounting to over $103 million worth of Bitcoin stored in a Bitcoin Fog wallet.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: HungaryOman

Topics: Bitcoin Bitcoin Fog Money Laundering Crypto News Crypto Mixer

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-10 @ 09:30:42 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 453 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23489127

View Article Analysis

About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 10 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

Publisher Details

Frequently Asked Questions