• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Larry Harmon Conviction for Bitcoin Laundering: Key Facts

user avatar

by Giorgi Kostiuk

a year ago


Larry Harmon, the mastermind behind a major Bitcoin laundering operation, has been sentenced to three years in prison. His actions contributed to the growth of illegal activities on the darknet.

A Darknet Empire Built on Bitcoin

In 2014, Larry Harmon launched Grams, a search engine for the darknet where illegal goods and services are traded. He later developed Helix, a Bitcoin mixing service that made transactions untraceable. This tool became popular with criminals, including drug dealers, who used it to move hundreds of millions of dollars.

Larry Harmon’s Legal Takedown

Harmon was arrested in 2020 and pleaded guilty in 2021. Judge Beryl Howell imposed a severe penalty, including imprisonment and forfeiture of $311 million. Harmon cooperated with authorities, aiding in the case against Roman Sterlingov, another mixer operator.

A Cautionary Tale for the Crypto Underworld

Harmon’s fall serves as a warning to those operating in the crypto underworld. Using cryptocurrency for illicit activities will inevitably have consequences, even if they offer anonymity.

Larry Harmon's story is a reminder that criminal activities in the crypto world will be exposed eventually. This will serve as a lesson for those who abuse cryptocurrency's capabilities.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Erik Zhang Demands Da Hongfei's Resignation Amid Leadership Dispute

chest

Erik Zhang demands Da Hongfei's resignation following a failed meeting regarding project alignment, highlighting tensions within NEO's leadership.

user avatarSatoshi Nakamura

Solana's Future Outlook Remains Positive with Upcoming Alpenglow Upgrade

chest

The anticipated Alpenglow upgrade is expected to enhance Solana's network performance, reinforcing its competitive position.

user avatarJesper Sørensen

Security Breach in SwapNet Leads to Stolen Assets

chest

A significant security breach in SwapNet has resulted in the theft of approximately $168 million in cryptocurrency assets.

user avatarRajesh Kumar

Rick Rieder Emerges as Frontrunner for Federal Reserve Chair

chest

Rick Rieder has emerged as the frontrunner with a 60% chance to succeed Jerome Powell as Federal Reserve Chair, reflecting growing confidence in his policies.

user avatarLucas Weissmann

Toncoin TON Eyes AI-Powered Comeback Amid Market Challenges

chest

Toncoin TON is exploring AI integrations to enhance its ecosystem and drive growth.

user avatarFilippo Romano

Zcash Stabilizes as Whales Accumulate More Holdings

chest

Zcash is stabilizing after a selloff, with large holders accumulating more ZEC, indicating a potential recovery.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.