Creator of Crypto Mixer ‘Bitcoin Fog’ Gets 12 1/2 Years In Prison
The founder of cryptocurrency mixing service Bitcoin Fog was sentenced on Friday to 150 months in prison for operating what prosecutors described as one of the “largest and longest-running money laundering services.”
According to prosecutors, the service was used to launder over $400 million in criminal proceeds since being created in 2011. The case was one that challenged the idea that cryptocurrencies, because they are not fiat currency, can operate outside of normal legal frameworks. As blockchain analysis and crypto payment tracing techniques have matured and become central to criminal investigations, it was a matter of time before the services key to scrambling the origins of money…
