Bitcoin Fog, Roman Sterlingov, Convicted of BTC Laundering, But Looks to Appeal

The infamous Bitcoin Fog proprietor, Roman Sterlingov, is now convicted of his crimes on multiple charges of BTC money laundering, as revealed by the United States Department of Justice. For around a decade, Sterlingov operated this Bitcoin laundering service on the darknet, looking to hide his operations from regulatory agencies, but was ultimately caught and tried.

Sterlingov maintains his innocence, saying that he did not establish Bitcoin Fog, and is looking to appeal his case to the court in the future.

Bitcoin Fog, Roman Sterlingov, Convicted of BTC Laundering

The Justice Department announced in its press release that Roman Sterlingov, the operator of Bitcoin Fog, was convicted yesterday, March 12.

"Our team of agents, analysts, and prosecutors were relentless in their pursuit of justice, painstakingly tracing Bitcoin through the blockchain to hold Sterlingov and his Bitcoin Fog enterprise to account," said Deputy Attorney General Lisa Monaco. "Today, a jury returned guilty verdicts on all counts - showing that no matter where you operate, if your cryptocurrency service reaches the United States, you must abide by U.S. law."

Sterlingov, through his "mixer," Bitcoin Fog, moved a total of 1.2 million Bitcoins valued at approximately $400 million during his operations from 2011 to 2021.

Sterlingov Looks to Appeal His Case, Not the Creator

However, Sterlingov claimed that he was innocent and maintained this stand throughout the trial, with the convicted money launderer looking to appeal his case in the future and present his case. Additionally, Sterlingov claimed that he did not create Bitcoin Fog.

During its heyday, Bitcoin Fog provided criminals a platform to launder their money, with the DOJ tying as much as three terabytes of data related to the case, with ties to Sterlingov.

Bitcoin Fog and Crypto Laundering

Bitcoin Fog is one of the most notorious BTC money laundering services in the crypto industry, and this has gone on for years, coming during a time when the top coin in the world is at its early stages.

However, cryptocurrency laundering has been a massive case in the courts in the present, as many are charged and caught in doing so, with the biggest being that of Binance's SEC dispute which escalated into a criminal case.

These events led to a massive conclusion where Binance's former CEO and co-founder, Changpeng Zhao, stepped down from his role and admitted his guilt in a plea hearing. Through this, Zhao's plea deal would give him a reduced sentence, but still faces a hefty $150 million fine to the Commodity Futures Trading Commission (CFTC), on top of other fines imposed upon him.

In China, there was one gang that was arrested for alleged money laundering issues, with as much as $1.7 billion worth in its operations during their time.

An infamous crypto titan also saw his empire fall today, with Sterlingov facing a conviction from the DOJ for his hands on Bitcoin money laundering on the dark web, something which he will appeal to in the future, amidst serving time.