The popular digital asset mixer Bitcoin Fog (Bitfog) founder Roman Sterlingov has finally received a prison sentence. The sentencing happened on November 8 in a court session presided over by U.S. District Judge Randolph Moss of the Washington federal court.
According to the report, Sterlingov promoted crimes and illegal activities while using the cryptocurrency platform as a cover. He developed the Bitfog mixer, which served as a depot for hijacked assets and funds gotten from traditional criminal activities like money laundering, child exploitation, and drug and human trafficking.
Sentencing and Other Punishment Details
The Department of Justice (DOJ) noted that Bitcoin Fog remained in the illicit business for over a decade, from 2011 to 2021.
According to records, the platform provided crime perpetrators an avenue to move approximately $400 million, equating to over 1.2 million BTC.
Meanwhile, in defense, Sterlingov filed “not guilty” for the alleged crimes, stating his mere participation in the act. In addition, he apologized for any inconveniences his involvement with Bitfog might have incurred for victims.
Unmoved by his pleas, the court delivered her judgments, which included about $400 million in fines. In addition, he will forfeit digital assets worth approximately $395.56 million.
The forfeited valuables will cut across interests and other digital assets in custody. Considering the gravity of the offense, the court pronounced a 12.5-year jail term against prosecutors' 20 - 30-year prison term proposals.
Law Enforcement Agents Applauded For Tracking Down The Criminal Firm
Following the successful operations to crack down on Bitcoin Fog, the law enforcement agents responsible for the case received cognizance from top officials, including U.S. Deputy Attorney General Lisa Monaco. He expressed satisfaction in bringing the 10-year criminal ally to justice amid strategic shadow operations.
Moreover, it is worth noting that the Federal Bureau of Investigation (FBI) played a significant role in this arrest. Paul Abbate, FBI Deputy Director, disclosed the background efforts inputted by his team by discussing how the FBI collaborated with cross-border law firms to bring the notorious crypto mixer to paper.
