US Seizes $400 Million Connected to Helix Dark Web Crypto Mixer

Key Findings:

• The U.S. government has seized over $400 million in assets linked to the notorious darknet cryptocurrency mixer Helix.

• The assets include cryptocurrencies, real estate, and other monetary holdings previously owned by Helix's Ohio-based operator, Larry Dean Harmon.

• Helix processed an estimated 354,468 bitcoins, worth around $311 million at the time, through over 1.2 million transactions between 2014 and 2017.

• The service was popular among darknet drug dealers and other criminals seeking to launder illicit proceeds.

• Harmon pleaded guilty to money laundering conspiracy in 2021 and was sentenced to 36 months in prison.

• The final court order, signed in January 2026, officially transferred legal ownership of the seized assets to the U.S. government.

Background

Helix operated as a cryptocurrency "mixer" or "tumbler" service from 2014 to 2017, allowing users to obscure the origin and destination of their bitcoin transactions. The service was particularly popular among darknet market vendors selling narcotics, stolen data, and other contraband.

Investigators were able to trace tens of millions of dollars from drug sales, fraud schemes, child exploitation material, and even extremist groups through Helix's operations. The service was designed by Ohio resident Larry Dean Harmon to work seamlessly with major darknet marketplaces, and he took a commission on each transaction.

Investigation, Arrest, and Legal Proceedings

Harmon was indicted in February 2020 on charges including money laundering conspiracy and operating an unlicensed money transmitting business. He was arrested following searches of his residences in Ohio and Belize, with authorities seizing cryptocurrency storage devices and records documenting millions in assets.

After pleading guilty in 2021, Harmon was sentenced in November 2024 to 36 months in prison and three years of supervised release. In a final court order issued on January 21, 2026, Judge Beryl A. Howell officially transferred legal ownership of over $400 million in seized assets, including cryptocurrencies, real estate, and monetary holdings, to the U.S. government.

International Cooperation and Blockchain Analysis

The investigation was led by the IRS Criminal Investigation Cyber Crimes Unit and the FBI Washington Field Office, with assistance from Belizean authorities. Blockchain analysis tools were instrumental in demonstrating that even mixed transactions could leave traceable patterns over time, enabling investigators to follow the flow of funds.

This case underscores the advancements in blockchain tracing capabilities and the increasing international cooperation in combating cryptocurrency-enabled crime networks. The DoJ's cybercrime teams have helped return over $350 million to victims since 2020.

Sources

• https://hackread.com/us-seizes-400m-helix-dark-web-crypto-mixer/

• https://www.yahoo.com/news/articles/inside-helix-bust-us-doj-093215528.html

• https://www.mexc.co/en-PH/news/595792

• https://www.binance.com/fr-AF/square/post/01-30-2026-u-s-department-of-justice-seizes-over-400-million-in-assets-linked-to-darknet-service-35759839834793

• https://forklog.com/en/us-justice-department-seizes-400-million-from-bitcoin-mixer-helix/