YEREVAN (CoinChapter.com) — Larry Dean Harmon, the founder of the Helix crypto mixer, has been sentenced to three years in prison. U.S. authorities charged the Ohio resident for laundering over $300 million in Bitcoin between 2014 and 2017 through his mixing service. Helix primarily facilitated funds for darknet drug markets.
IRS Helix Sentencing. Source: X
In addition to his sentence, Harmon faces forfeiture of assets totaling $400 million, including cryptocurrencies and real estate. A forfeiture money judgment of $311,145,854 was also imposed.
Helix Crypto Mixer: Darknet Drug Markets and Bitcoin Laundering
Helix operated as a Bitcoin mixing service, helping users obscure the origins of their digital currency. Between 2014 and 2017, the platform processed 354,468 BTC. According to the U.S. Department of Justice (DOJ), most of these transactions were tied to darknet drug markets, including some linked to the District of Columbia.
Records reveal that Helix earned fees and commissions for its laundering operations. Additionally, Harmon connected Helix to Grams, a darknet search engine, to further integrate the service into illegal markets. The platform’s API also allowed seamless integration into Bitcoin withdrawal systems on various darknet marketplaces.
Guilty Plea and Cooperation in the Case
Moreover, Harmon pleaded guilty in August 2021 to conspiracy to commit money laundering. The court considered his cooperation in the case, which led to a reduced sentence. While prosecutors recommended a 75-month prison term, U.S. District Judge Beryl Howell imposed a three-year sentence.
Notably, Harmon’s assistance also contributed to the sentencing of Roman Sterlingov, who received 12.5 years in prison earlier this month for cryptocurrency-related offenses. Consequently, Judge Howell noted Harmon’s efforts to close Helix two years before his indictment as a factor in the reduced sentence.
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