A Man resident in Ohio, U.S arrested for laundering 300$ valued bitcoin by running Darknet-based Cryptocurrency laundering Service and committed a big laundering fraud between 2014 to 2017.
Larry Harmon, 36 of Akron, Ohio was charged in the District of Columbia on Feb 11 for unlicensed money transmitting business with the name of Helix, a Darknet-based cryptocurrency laundering service.
Based on the Court indictment report, Helix functioned as a bitcoin “mixer” or “tumbler,” allowing customers, for a fee, to send bitcoin to designated recipients in a manner that was designed to conceal the source or owner of the bitcoin.
During this laundering business, Helix moved over 350,000 bitcoin – valued at over $300 million at the time of the transactions – on behalf of customers, with the largest volume coming from Darknet markets.
Harmon ran a “Grams,” a Darknet search engine which helps him for advertisement and also partnered with Darknet market AlphaBay to provide bitcoin laundering services for AlphaBay customers.
The AlphaBay was an illicit market place operated on the darknet, vendors, and customers engaged in exchanging different types of illicit goods such as stolen identity information, credit card numbers and other illegal items and the market was taken down on 20 July 2017 by law enforcement agencies.
According to the DOJ report, “Helix allegedly laundered hundreds of millions of dollars of illicit narcotics proceeds and other criminal profits for Darknet users around the globe by running Cryptocurrency laundering Service,”
“The sole purpose of Harmon’s operation was to conceal criminal transactions from law enforcement on the Darknet, and because of our growing expertise in this area, he could not make good on that promise. said Don Fort, Chief, IRS Criminal Investigation.
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