Roman Sterlingov arrested by the U. S. government for allegedly laundering more than 1. 2 million Bitcoins, valued at more than $336 million. Sterlingov is believed to be the administrator of a “mix” service called Bitcoin Fog, which has been used to hide transactions in order to save any payment tracking.
Stelringov lives in Russia and Sweden, but was arrested Tuesday at Los Ángeles. Se believes Stelringov personally took commissions for Bitcoin, which washed up to $8 million, according to IRS estimates and according to Wired. transmission of cash, cash laundering and uns licensed cash transmission in the District of Columbia.
Bitcoin Fog is particularly problematic for law enforcement agencies looking to track illegal activities that take a position on the dark web. The IRS has already used undercover agents to verify the site’s participation in such activity, asking Bitcoin Fog to raise cash from the ecstasy sale. It is believed that $78 million was spent on dark internet sites such as Silk Road and AlphaBay.
Sterlingov’s arrest is a useful reminder that while Bitcoin might seem anonymous, it is quite the opposite. Transactions are stored in the blockchain and can be discovered during an investigation. Those who use Bitcoin Fog probably feel a little worried right now. If the records were kept through Sterlingov, they are probably now owned by the federal government.
This is not the first time anyone has been arrested for running a Bitcoin mixing service or a glass of cryptocurrencies as they are called. In February 2020, Ohio resident Larry Dean Harmon was fined $60 million in a civil lawsuit filed through the U. S. Treasury Department of Financial Crimes. But it’s not the first time Unit. Executed a Bitcoin blender called Helixm that allegedly washed more than $300 million.
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