US seizes $400M in Bitcoin tied to darknet money laundering scheme
The U.S. government has finalised the forfeiture of over $400 million in assets linked to Helix, a darknet cryptocurrency mixer used for laundering illegal funds. The case centres on Larry Dean Harmon, the platform's operator, who was indicted in 2019 and later pleaded guilty to money laundering charges.
Harmon's services, which included Helix and the Grams search engine, processed millions in Bitcoin transactions tied to drug markets, fraud, and extremist groups.
Helix operated from 2014 to 2017 as an unregistered money services business. It obscured Bitcoin transactions, handling more than 1.2 million transfers worth over $311 million at the time. Investigators found the platform processed around 354,468 Bitcoin, much of it linked to criminal activity.
Harmon designed Helix to integrate directly with darknet markets, taking fees from transactions later traced to tens of millions in illicit proceeds. The U.S. government's civil case focused on violations of the Bank Secrecy Act during this period.
In 2019, Harmon was indicted in the U.S. District Court for the District of Columbia. He pleaded guilty in 2021 to conspiring to launder money. Despite this, no public records show he has paid debts related to the violations as of early 2026.
The forfeiture order, finalised on January 21, grants the government legal title to the seized assets. Harmon later became CEO of Coin Ninja, a registered money services business that offered crypto exchange services. Its DropBit product allowed Bitcoin transfers via text or social media, marketed as a way to bypass identity checks.
The forfeiture marks the end of a long legal process targeting Helix's role in darknet money laundering. Authorities have secured over $400 million in assets tied to the service. Harmon's case remains unresolved regarding outstanding debts from the violations.
