Roman Sterlingov was discovered responsible by a jury of all costs associated to the Bitcoin Fog coin mixer, in accordance with a press launch from the US Division of Justice.
Sterlingov was charged with conspiracy, cash laundering, working an unlicensed cash order enterprise and violating the DC Cash Order Act. The mixed costs carry a most of fifty years in jail.
Bitcoin Fog was a crypto mixer or tumbler that allowed customers to cover their transaction traces on the blockchain. The service operated from October 2011 to April 2021 and moved greater than 1.2 million BTC throughout its existence. The quantity was price greater than $400 million on the time of the transactions, however is price greater than $85 billion at present costs.
Primarily based on authorities evaluation of blockchain exercise and data from crypto exchanges, Sterlingov earned tens of millions of {dollars} in kickbacks for operating the service.
Sterlingov plans to attraction
Separate studies on the method from Bloomberg described a partial give attention to creating the service. Prosecutors defined how Sterlingov paid for the Bitcoin Fog area title, saying he seemed to be testing the service with small transactions earlier than it went public.
In his testimony, Sterlingov denied operating the service. As an alternative, he claimed to have created the Bitcoin Fog area title on behalf of a consumer whereas freelancing for a advertising and marketing and internet agency. He admitted to utilizing bitcoin fog however didn’t accumulate charges from the service.
His legal professional, Tom Ekeland, added that no eyewitness accounts or server logs present proof that his consumer operated the service.
Sterlingov and Ekeland plan to attraction the end result. In an announcement to Bloomberg, Ekeland referred to as the decision “disappointing” and referred to as the present stage of the proceedings a “midway level.”
In February, the case took a outstanding flip when prosecutors introduced beforehand convicted Bitfinex hacker Ilya Lichtenstein as a witness towards Sterlingov. Lichtenstein testified that he didn’t know or talk with Sterling instantly and stated that he used Bitcoin Fog solely minimally.
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