Larry Harmon, the founder of the Helix cryptocurrency mixer, was sentenced to three years in prison for money laundering through the platform. Over 350,000 BTC passed through Helix during its operation.
Larry Harmon's Sentence
Larry Harmon, the founder of the Helix cryptocurrency mixer, has been sentenced to three years in prison for money laundering. During his operation, over 350,000 BTC were processed through Helix. Besides the prison sentence, Harmon is required to forfeit $311 million in cash and $400 million in assets, including cryptocurrency and real estate.
Role of Helix Platform
Helix, operated by Larry Harmon, was involved in laundering over 350,000 BTC from 2014 to 2017. The platform allowed transactions directly from darknet markets through an integrated API. Initially, Harmon argued in court that Bitcoin is not 'money'; however, in 2021, he changed his plea to guilty.
Involvement of Larry's Brother
Larry's brother, Gary Harmon, also played a role in the criminal activities by taking advantage of access to his brother's cryptocurrency wallets. He misappropriated 712 BTC worth over $5 million, resulting in a four years sentence for wire fraud and obstruction of justice.
The Helix case highlights the risks associated with cryptocurrency mixing services and the need for increased law enforcement oversight to prevent similar crimes in the future.
