Helix operator sentenced with $400M asset forfeiture
The U.S. Department of Justice (DOJ) announced that Larry Dean Harmon, 41, from Akron, Ohio, has been sentenced to three years in prison for operating Helix, a cryptocurrency mixer that facilitated over $300 million in Bitcoin (CRYPTO:BTC) transactions between 2014 and 2017.
Helix, linked to the darknet search engine Grams also run by Harmon, was commonly used by drug dealers to launder illicit earnings.
“Helix was one of the most popular mixing services on the darknet and was highly sought after by online drug dealers who needed to launder their illicit proceeds,” the DOJ stated.
Helix processed around 354,468 Bitcoin, valued at approximately $311 million at the time of the transactions, including transactions involving customers in the District of Columbia.
Harmon developed Helix with features such as an Application Program Interface (API) to integrate with major darknet markets.
Investigators connected millions of dollars in illegal drug proceeds to the service, and Harmon pleaded guilty in 2021 to conspiracy to commit money laundering.
In addition to his prison sentence, Harmon received three years of supervised release and was ordered to forfeit assets, including a money judgment of $311,145,854 and various seized assets such as cryptocurrencies and real estate, valued at over $400 million.
The investigation was conducted by the IRS Criminal Investigation Cyber Crimes Unit and the FBI, with international collaboration from Belizean authorities.
The Financial Crimes Enforcement Network also imposed a $60 million civil penalty.
"In addition to his term in prison, Harmon was sentenced to three years of supervised release; a forfeiture money judgment in the amount of $311,145,854; and forfeiture of seized cryptocurrencies, real estate, and monetary assets valued at over $400 million," the Department of Justice confirmed, concluding a significant chapter in cryptocurrency regulation and enforcement.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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