The US Department of Justice has completed 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 Takeaways:
- US authorities seized over $400M in assets tied to the Helix crypto mixer.
- Helix laundered about $300M in bitcoin for darknet markets, prosecutors say.
- The case underscores growing regulatory pressure on crypto privacy tools.
In a statement released Thursday, the US Department of Justice said a final court order issued last week granted the government legal title to a range of seized assets, including cryptocurrencies, real estate and financial accounts linked to Helix’s operations.
The forfeiture marks one of the largest recoveries connected to a crypto mixing service to date.
Helix Laundered $300M in Bitcoin for Darknet Users, Prosecutors Say
According to prosecutors, Helix processed at least 354,468 bitcoin between 2014 and 2017, worth roughly $300 million at the time.
The service was designed to obscure the origin of funds and was marketed to users seeking anonymity, including vendors and customers on 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 forfeited assets were directly connected to the laundering activity carried out through the mixer.
The case comes as crypto mixers remain under heightened 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 reviewing a potential pardon for Keonne Rodriguez, a co-founder of the Samourai Wallet mixing service who was convicted on money laundering and unlicensed money transmission charges 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 on money laundering and sanctions-related charges and is awaiting sentencing.
The case has drawn criticism from parts of the crypto community, including Vitalik Buterin, who has argued that privacy tools should not be treated as criminal simply because they can be misused.
Crypto Crime Hits Record $154B in 2025, Chainalysis Says
The forfeiture 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 year before.
In another case, US prosecutors have charged a 23-year-old Brooklyn resident, Ronald Spektor, with stealing roughly $16 million in cryptocurrency from around 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 at immediate risk, 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 alias “lolimfeelingevil,” Spektor allegedly warned victims of imminent theft to override skepticism and force quick decisions.
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