An Ohio man guilty of Bitcoin laundering must forfeit over $400 million in assets

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Vector collage of the FBI seal.
Image: The Verge

An Ohio man named Larry Dean Harmon will serve three years in prison and forfeit more than $400 million worth of cryptocurrency and other assets, the Department of Justice announced on Friday. Harmon was indicted in 2020 on money laundering conspiracy charges related to Helix, a darkweb cryptocurrency “mixer” service he ran.

Also known as crypto “tumbling,” services like Helix are designed to hide cryptocurrency transactions — often for illegal drugs — and the identity of people involved. From 2014 to 2017, Harmon processed more than 350,000 Bitcoin (about $311 million USD at the time) in such transactions, according to the DOJ’s announcement.

Harmon, who pleaded guilty to conspiracy to commit money laundering in August 2021, will be on...

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source https://www.theverge.com/2024/11/17/24298962/larry-dean-harmon-charged-bitcoin-laundering-helix-mixer-cryptocurrency-darknet

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