Key notes
- The US DOJ has seized more than $400 million in assets linked to the Helix crypto mixer used to launder darknet funds.
- Larry Dean Harmon was sentenced to three years in prison for running Helix, which processed 354,468 BTC.
- The case fuels the debate on crypto mixers and privacy tools, with the intervention of personalities like Vitalik Buterin.
Crypto mixer Helix has become the center of a major enforcement action in the United States.
This comes after the Department of Justice (DOJ) confirmed the permanent forfeiture of more than $400 million in assets linked to the now-defunct darknet service.
This decision puts an end to a money laundering case that has lasted for years.
DOJ Finalizes Seizure of Helix Crypto Mixer
The United States Department of Justice has finalized a court-ordered forfeiture related to the Helix crypto mixer.
Prosecutors say it is a service widely used to launder proceeds from illegal online marketplaces.
According to the ministry, the final order grants the government ownership of seized cryptocurrencies, real estate and financial accounts related to Helix’s operations.
As reported, the Helix crypto mixer processed approximately 354,468 Bitcoins.
BTC
$82,632
24h volatility:
6.0%
Market capitalization:
$1.65 million
Flight. 24h:
$90.95 billion
between 2014 and 2017.
These transactions were valued at approximately $300 million. Investigators said the service was designed to hide the origin of funds, making it attractive to users involved in darknet drug sales and other crimes.
It is worth noting that the scale of its activity places Helix among the most active illicit mixing services of its time.
The platform was operated by Larry Dean Harmon, who pleaded guilty in 2021 to conspiracy to commit money laundering.
In November 2024, a federal court sentenced Harmon to three years in prison, followed by supervised release. The confiscation order closes the financial side of the case, years after Helix went offline.
In another development, on January 9, the Justice Department issued grand jury subpoenas to the Federal Reserve regarding a $2.5 billion headquarters overhaul.
In response, Chairman Jerome Powell released a rare video defending the bank’s independence.
Privacy debate intensifies after Helix affair
The Helix Crypto Mixer case has added pressure to an already tense debate over how privacy tools should be treated under the law.
Prosecutors say mixers enable crime by design, while parts of the crypto industry say the tools also meet legal privacy needs.
Recent convictions have kept the issue in the public eye. Samourai Wallet co-founder Keonne Rodriguez was sentenced to five years for money laundering and unlicensed wire charges.
Tornado Cash developer Roman Storm was also convicted of related offenses and is awaiting sentencing.
Meanwhile, Ethereum
ETH
$2,741
24h volatility:
6.5%
Market capitalization:
$330.65 billion
Flight. 24h:
$45.62 billion
co-founder Vitalik Buterin spoke out in support of privacy software developers.
He warned that the code alone should not be considered criminal. As regulators move forward, the confiscation of the Helix crypto mixer will likely remain a reference point in future enforcement actions and policy debates.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations aimed at driving mainstream acceptance and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
