Washington Court Convicts Bitcoin Fog Founder of Aiding Darknet Drug Trade Money Laundering
Summary
Roman Sterlingov, founder of Bitcoin Fog, was found guilty of money laundering by a federal jury in Washington. The service facilitated over $400 million in untraceable transactions, with funds from illicit markets. The case sheds light on the role of Chainalysis in tracing cryptocurrency flows. Sterlingov denied running Bitcoin Fog, claiming to have worked in IT. Despite his denial, he faces a potential prison sentence of up to 20 years. Bitcoin experienced a minor 2% correction but rebounded, currently trading at $71,400. It reached an all-time high of $73,000.
