US Finalizes Forfeiture of $400 Million Tied to Helix Darknet Mixer
U.S. authorities have seized over $400 million in assets connected to Helix, a darknet cryptocurrency mixer used primarily to launder proceeds from illegal online drug markets and other crimes. Helix, which operated from 2014 to 2017 and processed over 354,000 Bitcoins (valued at $311 million at the time), obscured the origins and destinations of cryptocurrency transactions to facilitate money laundering. Its operator, Larry Dean Harmon, integrated Helix with major darknet markets and took commissions on each transaction. The U.S. Department of Justice stated that Helix was custom-built as a money laundering service, rather than simply a privacy tool misused for crime. Harmon ran Helix as an unregistered money services business without implementing required anti-money laundering controls or reporting suspicious activity, violating the Bank Secrecy Act. He later became CEO of Coin Ninja, another crypto platform, which also promoted services to circumvent identity verification requirements. Helix and related tools were used to move criminal funds tied to drug trafficking, fraud, child exploitation, and extremist groups. Harmon was indicted in 2019 and pleaded guilty in 2021 to conspiracy to launder money, with additional civil penalties imposed.
