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

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Bitcoinist 2d ago

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

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.