Cryptocurrency laundryman gets hung out to dry

A U.S. jury convicted Roman Sterlingov, operator of the Bitcoin Fog crypto mixing service, which laundered “well over” 1.2 million BTC (about $400M) from 2011–2021 and was used heavily by dark web marketplaces; DOJ seized 1,354 BTC and other assets, and Sterlingov faces up to 50 years with sentencing on July 15. The report also explains how mixers work, notes that they are not inherently illegal but must register as money transmitters in the U.S., and highlights their dual use by both criminals and privacy-seeking users.