{"id":57690,"date":"2024-11-16T00:58:06","date_gmt":"2024-11-16T00:58:06","guid":{"rendered":"https:\/\/www.threatshub.org\/blog\/bloke-behind-helix-bitcoin-launderette-jailed-for-three-years-hands-over-400m\/"},"modified":"2024-11-16T00:58:06","modified_gmt":"2024-11-16T00:58:06","slug":"bloke-behind-helix-bitcoin-launderette-jailed-for-three-years-hands-over-400m","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/bloke-behind-helix-bitcoin-launderette-jailed-for-three-years-hands-over-400m\/","title":{"rendered":"Bloke behind Helix Bitcoin launderette jailed for three years, hands over $400M"},"content":{"rendered":"<p>An Ohio man, who operated the Grams dark-web search engine and the Helix cryptocurrency money-laundering service associated with it, has been sentenced to three years in prison.<\/p>\n<p>Larry Dean Harmon, 41, set up Grams in April 2014. Three months later he also set up on the dark web Helix, a so-called mixer or tumbler service that pools and swaps people&#8217;s Bitcoins to obfuscate the original sources, according to court documents. You put your BTC into Helix and you get the equivalent amount of other people&#8217;s out.<\/p>\n<p>You can only imagine why someone would want to do that. Hint: You don&#8217;t want your funds associated with wallets used by cybercrime marketplaces.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"condor\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<p>Over three years of operation, Harmon laundered 354,468 bitcoins (around $311 million at the time, around $32 billion these days) and charged a possible 2.5 percent fee for transactions.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xmd=\",fluid,mpu,leaderboard,\" data-lg=\",fluid,mpu,leaderboard,\" data-xlg=\",fluid,billboard,superleaderboard,mpu,leaderboard,\" data-xxlg=\",fluid,billboard,superleaderboard,brandwidth,brandimpact,leaderboard,mpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<div class=\"adun_eagle_desktop_story_wrapper\">\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"mid\" data-raptor=\"eagle\" data-xxlg=\",mpu,dmpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<\/p><\/div>\n<p>&#8220;No one has ever been arrested just through Bitcoin taint, but it is possible and do you want to be the first?&#8221; he wrote on Helix&#8217;s website to encourage people to use his underworld service, according to <a target=\"_blank\" href=\"https:\/\/regmedia.co.uk\/2024\/11\/15\/helix.pdf\" rel=\"noopener\">court documents<\/a> [PDF]. &#8220;Most markets use &#8216;Hot Wallets&#8217;, they put all their fees in these wallets. [Law enforcement] just needs to check the taints on these wallets to find all the addresses a market uses.&#8221;<\/p>\n<p>But things kicked up a notch in about November 2016 when Harmon entered into a partnership with Alphabay &#8211; then the largest bazaar for illegal goods on the dark web. That souk was <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2017\/07\/20\/dark_net_megabust\/\" rel=\"noopener\">taken down<\/a> in July 2017. A few months later, Harmon began to shut down operations for Grams and Helix.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<p>He set up the Bitcoin-promoting site Coin Ninja, but in February 2020 he was <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.justice.gov\/opa\/pr\/ohio-resident-charged-operating-darknet-based-bitcoin-mixer-which-laundered-over-300-million\">arrested and charged<\/a> with money laundering, operating an unlicensed money transmitting business, and conducting money transmission without a license, all in connection with the operation of Helix.<\/p>\n<p>His assets, including a Trezor crypto wallet, were seized, and he faced charges that could put him in prison for over 20 years.<\/p>\n<p>However, his younger brother Gary managed to access a seized cryptocurrency storage device using his brother&#8217;s credentials and stole more than 712 Bitcoin. He then rather foolishly went on a spending spree, being <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-27\/bitcoin-thief-photographed-in-bathtub-of-cash-gets-four-years\">photographed<\/a> in a bath full of money and buying a luxury condo in Cleveland. In 2023 he was <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.justice.gov\/opa\/pr\/man-sentenced-stealing-over-712-bitcoin-subject-forfeiture\">sentenced<\/a> to four years and three months in prison for the theft.<\/p>\n<p>The elder Harmon pleaded guilty in August 2021, and agreed to the forfeiture of more than 4,400 Bitcoins (today worth $400,200,000) and other seized properties.<\/p>\n<p>&#8220;Harmon admitted that he conspired with Darknet vendors to launder bitcoin generated through drug trafficking and other illegal activities,&#8221; assistant director in charge Steven D\u2019Antuono of the FBI\u2019s Washington Field Office <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.justice.gov\/opa\/pr\/ohio-resident-pleads-guilty-operating-darknet-based-bitcoin-mixer-laundered-over-300-million\">said<\/a> at the time. That &#8220;guilty plea demonstrates the FBI\u2019s commitment to infiltrate and shut down the cryptocurrency money-laundering networks that support cyber-criminal enterprises.&#8221;<\/p>\n<div aria-hidden=\"true\" class=\"adun\" id=\"story_eagle_xsm_sm_md_xmd_lg_xlg\" data-pos=\"mid\" data-raptor=\"eagle\" data-xsm=\",mpu,dmpu,\" data-sm=\",mpu,dmpu,\" data-md=\",mpu,dmpu,\" data-xmd=\",mpu,dmpu,\" data-lg=\",mpu,dmpu,\" data-xlg=\",mpu,dmpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33ZznBkwn8plj-P2tq6vLVmQAAAI8&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<p>In addition to his time behind bars, Larry Harmon will be on probation for three years and also faces having to pay back a further $311,145,854, along with having to forfeit other seized cryptocurrencies, real estate, and monetary assets. He has already been <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.fincen.gov\/news\/news-releases\/first-bitcoin-mixer-penalized-fincen-violating-anti-money-laundering-laws\">fined $60 million<\/a> by the US Treasury Department&#8217;s Financial Crimes Enforcement Network.<\/p>\n<p>At that time, that was FinCEN&#8217;s first-ever enforcement against a cryptocurrency mixer, and in 2023 the agency <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.fincen.gov\/resources\/statutes-regulations\/federal-register-notices\/proposal-special-measure-regarding\">proposed<\/a> increasing oversight of mixing services by requiring operators to report all transactions to the government. No decision has yet been made on the matter. \u00ae<\/p>\n<p> READ MORE <a href=\"https:\/\/go.theregister.com\/feed\/www.theregister.com\/2024\/11\/16\/helix_bitcoin_mixer\/\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital money laundering pays, until it doesn&#8217;t An Ohio man, who operated the Grams dark-web search engine and the Helix cryptocurrency money-laundering service associated with it, has been sentenced to three years in prison.\u2026 READ MORE HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[63],"tags":[],"class_list":["post-57690","post","type-post","status-publish","format-standard","hentry","category-the-register"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ 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