Ohio Man Pleads Guilty to Operating Bitcoin Mixer
Larry Dean Harmon, a 38-year-old resident of Akron, Ohio, pleaded guilty to money laundering conspiracy charges for operating a Darknet-based bitcoin ‘mixer’ that laundered over $300 million.
According to court documents, Harmon operated Helix, a bitcoin ‘mixer’ or ‘tumbler,’ from 2014 to 2017. Helix allowed 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.
Harmon admitted that Helix was linked to and associated with ‘Grams,’ a Darknet search engine also run by Harmon. He advertised Helix to customers on the Darknet to conceal transactions from law enforcement.
By operating Helix, Harmon conspired with Darknet vendors to launder bitcoin generated through drug trafficking and other illegal activities. He partnered with several Darknet markets, including AlphaBay, Evolution, Cloud 9, and others, to provide bitcoin money laundering services for market customers.
In total, 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 further admitted that he conspired with Darknet vendors and marketplace administrators to launder such bitcoins generated through illegal drug trafficking offenses on those Darknet marketplaces.
As part of his plea, Harmon agreed to the forfeiture of more than 4,400 bitcoin, valued at more than $200 million at today’s prices, and other seized properties that were involved in the money laundering conspiracy. Harmon will be sentenced at a date to be determined and faces a maximum penalty of 20 years in prison.
Holding Harmon accountable has disrupted the unlawful money laundering practices of these dangerous criminal enterprises, said Assistant Attorney General Kenneth A. Polite Jr. of the Criminal Division. The Justice Department, together with our law enforcement and regulatory partners, will continue to take enforcement actions to identify and impede those who use illicit means for financial gain, as well as those who use the Darknet to facilitate and obscure their criminal conduct.
Key Facts
- State: Ohio
- Category: Cybercrime | Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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