Helix Mixer Founder Jailed for $300 Million Crypto Laundering
Ohio resident Larry Harmon was sentenced to three years in prison for operating the dark web mixer Helix.
During the course of Harmon’s operations, he oversaw $300 million in laundered assets, much of which originated from or flowed to darknet drug markets.
Spiral mixer operator Larry Harmon sentenced to 3 years in prison
Harmon pleaded guilty in 2021 to operating a cryptocurrency mixing platform in connection with illegal activities. On November 15, U.S. District Judge Beryl Howell granted him clemency. sentenceadmit that he is Bitcoin Fog Survey. The case also involves Harmon and another individual involved in the case Bitfinex Heist.
Both men provided testimony regarding Bitcoin fog, Bitfinex hackers used for years Launder stolen assets. All three were sentenced within 48 hours.
“The scale and impact of the defendants’ money laundering activities are staggering,” said Bitcoin Fog prosecutor Alden Pelker. “He brought SEO to the local cocaine distributor,” she explain.
Harmon originally built the Helix mixer to improve Characteristics of Bitcoin Fog. He eventually stopped the Helix business two years before his arrest and testified to have his sentence reduced from the maximum 20 years to just three years. Authorities have ordered Harmon to seize $311 million in assets, equivalent to the value of at least 354,468 Bitcoins at the time of the operation.
His brother Gary Harmon was also found to be an accomplice to the crimes. As part of the investigation, the IRS seized 4,877 Bitcoins from Larry Harmon. These digital tokens are stored in wallets that can be accessed through devices in IRS evidence lockers.
Prosecutors allege Gary Harmon used Larry’s credentials to recreate eight of them Bitcoin wallet, Allowing him to transfer Bitcoin from his wallet, thus bypassing IRS regulations. Investigators discovered evidence linking Gary after Bitcoin disappeared from an IRS-protected device.
A photo found on his phone showed him filling a bathtub with cash at a nightclub. Gary is reportedly 68 Bitcoins used as collateral for a $1.2 million loan. He also used some of the stolen funds to buy a luxury apartment in Cleveland. Gary Harmon pleaded guilty and was sentenced to four years in prison by Judge Howell.
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