The post Bitcoin Fog Founder Convicted: 12.5-Year Sentence & $395M Forfeiture appeared first on Coinpedia Fintech News
Roman Sterlingov, the founder of Bitcoin Fog—a darknet cryptocurrency mixer—has been sentenced to 12.5 years in prison and ordered to forfeit $395.5 million. This follows his conviction on charges of money laundering, conspiracy, and operating an unlicensed money-transmitting business. Bitcoin Fog, which became popular among criminals, is believed to have handled over 1.2 million Bitcoins, worth around $400 million. While Sterlingov did not deny the charges, he claimed he was just a user of the service. Critics argue that the case could further harm financial privacy in the cryptocurrency industry.