Security News > 2021 > August > Bitcoin mixer owner pleads guilty to laundering over $300 million
Larry Dean Harmon, the owner of a dark web cryptocurrency laundering service known as Helix, pleaded guilty today of laundering over $300 million worth of bitcoins between 2014 and 2017.
"In total, Helix moved over 350,000 bitcoin - valued at over $300 million at the time of the transactions - on behalf of customers, with the largest volume coming from Darknet markets."
Beginning with July 1024, he started running Helix, a Bitcoin mixer or tumbler which allowed anyone to "Launder" their bitcoins by concealing the true owner.
Through his plea, Harmon has agreed to forfeit over 4,400 bitcoin and other seized properties involved in the money laundering conspiracy.
Harmon was the Helix bitcoin tumbler operator between 2014 and 2017 and the CEO of the Coin Ninja bitcoin startup from 2017 to 2020 when he was arrested under money laundering charges.
"Beginning on or about June 6, 2014, through on or about December 16, 2017, Mr. Harmon doing business as Helix, conducted over 1,225,000 transactions for customers and is associated with virtual currency wallet addresses that have sent or received over $311 million," FinCEN said.