Bitcoin
$48,005.90+0.05%
Ethereum
$3,577.99-0.32%
XRP
$1.09-1.68%
Cardano
$2.43-1.47%
Polkadot
$36.29+0.41%
Stellar
$0.330226-2.29%
Dogecoin
$0.241196-1.57%
Chainlink
$29.87-4.23%
Uniswap
$26.28-3.58%
Polygon
$1.39-5.13%
Litecoin
$186.44-1.80%
Bitcoin Cash
$642.97-0.92%
Algorand
$2.11+7.99%
Cosmos
$37.35+14.17%
Wrapped Bitcoin
$47,998.79-0.07%
Filecoin
$84.13-2.34%
The Graph
$0.860507-3.71%
Tron
$0.118546-0.01%
Ethereum Classic
$58.08-1.00%
Aave
$386.49-4.95%
Tezos
$6.82+0.03%
NEO
$50.71-2.81%
EOS
$5.04-0.32%
Monero
$265.77-1.14%
IOTA
$1.52-4.92%
BitTorrent
$0.004062-1.57%
Waves
$30.77-3.77%
Bitcoin SV
$159.57+2.27%
Maker
$2,977.22-3.81%
Dash
$208.77-1.27%
Decred
$145.41+0.91%
Decentraland
$0.847330-2.06%
ICON
$2.02-5.31%
NEM
$0.189525+0.88%
Zcash
$139.05-3.31%
Qtum
$12.71-1.23%
NuCypher
$0.338787+0.68%
Yearn Finance
$34,957.04-3.81%
Bitcoin Gold
$67.18-2.93%
OmiseGO
$8.75-3.94%
Basic Attention Token
$0.779800-0.98%
0x
$1.13+0.86%
Fetch.ai
$0.900736-4.73%
Paxos Standard
$0.990055-0.93%
Ren
$1.01-4.63%
Bancor
$4.20-2.29%
Band Protocol
$9.71-0.09%
Siacoin
$0.018936-1.90%
Kava.io
$6.33-1.34%
Nano
$5.64-3.51%
Loopring
$0.471387-7.23%
Storj
$1.41-2.40%
Civic
$0.530115+0.52%
Lisk
$3.62-4.29%
Numeraire
$44.11-2.05%
Orchid
$0.375927-2.44%
PAX Gold
$1,765.69-1.85%
Augur
$26.62+0.12%
Aragon
$5.97-4.17%
Enzyme
$117.13-7.38%
district0x
$0.176800-5.65%
Kyber Network
$1.86-0.72%
SingularDTV
$0.001240-6.32%
Tether
$1.00-0.04%
USD Coin
$0.999792-0.04%
Dai
$0.999883-0.05%

FinCEN Fines Bitcoin-Mixing CEO $60M in Landmark Crackdown on Helix, Coin Ninja

Larry Dean Harmon ran the first bitcoin mixing services targeted with criminal allegations by U.S. authorities.

Oct 19, 2020 at 6:49 p.m. UTC
Updated Sep 14, 2021 at 10:11 a.m. UTC

Larry Dean Harmon, the Helix and Coin Ninja crypto-tumbling chief who in February was arrested for allegedly mixing bitcoin for criminals must pay $60 million in civil penalties, prosecutors at the Financial Crimes Enforcement Network (FinCEN) demanded Monday.

  • Harmon's bitcoin mixing services allegedly laundered tens of millions of dollars in crypto for darknet markets including Abraxas, Agora, Hansa, Hydra and Wall Street Market.
  • Defunct former darknet giant AlphaBay is alleged to have forged particularly close ties to Helix. Prosecutors claim Helix laundered $27 million in bitcoin for AlphaBay by integrating its mixing services on site.
  • Harmon's family has denied Larry had any ties to AlphaBay.
  • Prosecutors allege Harmon was running an unregistered money services business in violation of the Banking Secrecy Act. They say he had a responsibility to file suspicious activity reports and systemically flouted U.S. money laundering laws.
  • FinCEN hailed its penalty as the "first" action against a bitcoin mixer.
  • Harmon's case is notable because it is the first time the U.S. Department of Justice explicitly called bitcoin mixing a "crime." Such a classification could mean far-reaching legal troubles for any service that uses obfuscation tactics to conceal bitcoin's publicly accessible path.
  • Harmon also faces criminal proceedings in U.S. federal court.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...