The U.S. Department of Justice has finalized the forfeiture of more than $400 million in assets tied to Helix, a darknet cryptocurrency mixer that authorities say was widely used to launder proceeds from illegal online marketplaces.
Key points to remember:
- US authorities have seized more than $400 million in assets linked to crypto mixer Helix.
- Helix laundered approximately $300 million in bitcoin for darknet markets, according to prosecutors.
- The case highlights the growing regulatory pressure on crypto privacy tools.
In a statement released Thursday, the U.S. Department of Justice said a final court order issued last week granted the government legal title to a series of seized assets, including cryptocurrencies, real estate and financial accounts linked to Helix’s operations.
The confiscation marks one of the largest recoveries linked to a crypto mixing service to date.
Helix laundered $300 million in Bitcoin for Darknet users, prosecutors say
According to prosecutors, Helix processed at least 354,468 bitcoins between 2014 and 2017, worth about $300 million at the time.
The service was designed to mask the origin of funds and was marketed to users seeking anonymity, including suppliers and customers in illicit darknet markets.
Helix was operated by Larry Dean Harmon, who pleaded guilty in August 2021 to conspiracy to commit money laundering.
Harmon was sentenced in November 2024 to three years in prison, followed by a period of supervised release.
Authorities said the confiscated assets were directly linked to laundering activity conducted through the mixer.
The case comes as cryptocurrency mixers remain under increased scrutiny from lawmakers and regulators, with debate intensifying over how privacy-focused tools should be treated under existing financial crime laws.
In December, President Donald Trump said he was exploring a possible pardon for Keonne Rodriguez, co-founder of the mixing service Samourai Wallet, who was convicted of money laundering and unlicensed money transfer and sentenced to five years in prison.
Attention has also focused on the prosecution of Roman Storm, a developer linked to the Tornado Cash protocol, who was convicted last year of money laundering and sanctions-related charges and is awaiting sentencing.
The case sparked criticism from parts of the crypto community, including Vitalik Buterin, who argued that privacy tools should not be treated as criminals simply because they can be misused.
Crypto Crime Hits Record $154 Billion in 2025, According to Chainalysis
The confiscation comes as crypto-related crime remains a growing concern. According to Chainalysis, illicit cryptocurrency addresses received a record $154 billion in 2025, a sharp increase from the previous year.
In a separate case, U.S. prosecutors charged Ronald Spektor, a 23-year-old Brooklyn resident, with stealing approximately $16 million in cryptocurrency from about 100 Coinbase users through an alleged phishing and social engineering scheme.
According to the Brooklyn District Attorney’s Office, Spektor posed as a Coinbase employee and contacted victims claiming their funds were in immediate danger, pressuring them to transfer crypto to wallets he controlled.
Authorities said the scheme relied on panic tactics rather than technical hacks. Operating under the online pseudonym “lolimfeelingevil,” Spektor allegedly warned victims of an impending theft in order to overcome their skepticism and force quick decisions.
The post US DOJ Finalizes $400 Million Forfeiture Related to Helix Crypto Mixer appeared first on Cryptonews.
