Federal authorities have arrested an Ohio man suspected of running a cryptocurrency money laundering service that transferred about $ 300 million in bitcoin through a "rollover" operation. According to the Department of Justice, Larry Dean Harmon of Akron launched an operation called Helix, which works with the now-defunct underground market AlphaBay, which includes Famous for illegal activities including drug trafficking. Federal Reserve Closed AlphaBay in 2017.
Under the indictmentAuthorities said Harmon exchanged more than 350,000 bitcoins on Helix between 2014 and 2017. Customers can send Bitcoin to recipients by concealing transactions and Bitcoin owners.
"Helix's shameless behavior should be the most shocking aspect of citizens every day. Don Ford, head of the IRS's Criminal Investigation Department, said in a statement:" There are bad actors, and some criminals have fueled hundreds of other crimes. "The sole purpose of Operation Harmon was to conceal criminal transactions from law enforcement on Darknet, and because of our growing expertise in the field, he was unable to deliver on that promise. "
Bitcoin Stumble is also known as Hybrid, which enables owners to mix their cryptocurrency transactions to keep them from being supervised, often hiding illegal activities such as drug trafficking.
Harmon has been charged with money laundering conspiracy, operating an unlicensed remittance business and remittances without a DC license.
Once a popular medium for money laundering, cryptocurrency exchanges now need to disclose information to make operations such as Helix less common. In 2018, More than 40 suspected black net drug traffickers arrested As part of a federal crackdown on dark web vendors. By providing cash for Bitcoin, Homeland Security brokers track more than $ 20 million in drug-related cryptocurrency transactions to various traders.