U.S. Finalizes Forfeiture of Over $400 Million from Helix Mixer
By John Nada·Feb 1, 2026·2 min read
The U.S. government has seized over $400 million tied to Helix, a darknet crypto mixer. This action highlights authorities' commitment to combating crypto-related crime.
The U.S. government has seized more than $400 million in assets linked to Helix, a notorious darknet crypto mixer. This final forfeiture order comes after a federal judge's ruling that cemented the transfer of Helix-linked assets to the government. Helix, which processed over $311 million in Bitcoin, operated as an unregistered mixer, obscuring transaction trails for users of darknet markets. Prosecutors stated that the service pooled and redistributed Bitcoin, effectively laundering the proceeds from various criminal activities, including drug sales.
According to the Department of Justice (DOJ), Helix was a widely utilized service that began operations in 2014, processing approximately 354,468 Bitcoin. The DOJ further revealed that much of the crypto involved was linked to “darknet drug markets,” and its operator, Larry Dean Harmon, retained a portion as commissions.
Harmon designed Helix to integrate seamlessly with major darknet markets, allowing him to take fees from transactions that ultimately traced back to significant sums of money. Experts, including Ari Redbord from TRM Labs, remarked that Helix exemplified a service specifically crafted to launder money from illegal activities, rather than merely a privacy tool misused later.
The forfeiture underscores the U.S. government's commitment to dismantling infrastructures that facilitate illicit financial activities. Each takedown, as Redbord noted, introduces friction to the laundering process, pushing illicit actors into less familiar and more traceable avenues.
The case against Harmon was rooted in violations of the Bank Secrecy Act, as he ran Helix without the necessary registrations and failed to implement an anti-money laundering program. Furthermore, Harmon was previously indicted in 2019 and pleaded guilty to conspiring to launder money in 2021.
This latest action by U.S. authorities follows a civil penalty imposed on Harmon by FinCEN in October 2020, which remains unpaid. Authorities have indicated that Helix was also utilized to facilitate transactions related to fraud, child exploitation, and extremist groups.
The dismantling of Helix serves as a stark reminder of the U.S. government's robust approach to curbing cryptocurrency-related crimes. It demonstrates an ongoing effort to target not just the users of these services but also the platforms that enable such activities. The implications for the crypto landscape are significant, as authorities continue to tighten regulations and pursue those who operate outside the law, forcing actors into less efficient and riskier financial paths.