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

Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja, is being fined $60 million by the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) for allegedly violating anti-money laundering rules. According to documents published Oct. 19 by Fincen, the fine surrounds the transmission of “at least 356,000 bitcoin transactions through Helix between June 2014 and December 2017” on behalf of criminals using the dark web. Prosecutors allege Harmon was running an unregistered money services business (MSB) in violation of the Bank....

FinCEN has fined the operator of early crypto mixers Helix and Coin Ninja for Bank Secrecy Act violations. The founder and operator of some of the first "mixing" services in crypto will have to cough up $60 million to United States regulators, even as he faces continued criminal charges. The U.S. Treasury's Financial Crimes Enforcement Network, or FinCEN, announced on Monday a $60 million fine against Larry Dean Harmon, the man behind Helix and Coin Ninja.Harmon was arrested in February for operating a stable of tumblers, or mixers, that Washington, D.C. prosecutors allege constitute....

The operator of the darknet-based Bitcoin mixing service Helix has pleaded guilty to laundering more than $300,000 million worth of BTC from 2014 to 2017. Ohio man, Larry Dean Harmon, has pleaded guilty to laundering more than $300 million while operating the Darknet-based Bitcoin mixing service, Helix. On August 19, The U.S. Department of Justice announced that the 38-year-old pleaded guilty to laundering more than 350,000 Bitcoin through Helix from 2014 through 2017.Bitcoin mixers are used to help people anonymize their Bitcoin. In the past, this has helped people cover their tracks on....

Larry Dean Harmon, founder and operator of the bitcoin mixing service Helix has pleaded guilty on Wednesday to money laundering charges. Harmon’s guilty plea follows the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) fining Harmon $60 million last year. Helix Operator Pleads Guilty to Money Laundering, Conspiracy Charges According to several reports and a court-issued plea, Ohio resident Larry Harmon (38) pled guilty in a D.C. federal court on Wednesday for money laundering and conspiracy charges. Harmon detailed in court that he plans to cooperate with federal....

Helix Miners, along with Flower Technology, may have scammed their customers. A few months ago, Helix partnered with Flower Tech to be the sole distributor of Flower Tech's miners. The two companies showed off a working prototype of a Flower Tech miner and things appeared to be going as planned. However, in August, Flower Tech announced that the company had not raised enough funds to complete the ASIC design and ship out the miners in time. Flower Tech assured customers that all preorders would still be fulfilled, and that Helix and EnSilica, the chip designer, would continue securing....