The U.S. Department of Justice has formalized the seizure of more than $400 million in assets linked to the Helix Bitcoin mixer on the darknet. The move concludes a long-running investigation into one of the largest and longest-running mixing services.
The action comes as part of the criminal proceedings against Larry Dean Harmon, operator of the Helix service, who pleaded guilty in August 2021. He was subsequently sentenced to three years in prison in November 2024, bringing to a close one of the most significant criminal cases related to the use of cryptocurrency mixing services.
The seizure formalizes the recovery of assets following a multi-year investigation focused on transactions conducted between 2014 and 2017. The court order concluding the process was issued on January 21, and grants legal title to the seized assets to the United States government, according to court documents.
During its operation, Helix functioned between 2014 and 2017 and processed approximately 354,468 Bitcoin, a volume valued at around $300 million at the time, according to the Department of Justice. Authorities maintain that the service was used as a vehicle to launder profits from darknet markets.
The seized assets include cryptocurrencies, real estate, and cash, reflecting the scope and diversification of the profits under investigation. Taken together, the case marks one of the most significant closures in the prosecution of infrastructure used for money laundering in the crypto ecosystem over the past decade.
Key Takeaways from the Helix Seizure and Investigation
The seizure, now complete and among the largest cryptocurrency seizures linked to a single mixing service, underscores the lengthy timelines that can accompany digital asset investigations. For regulators and compliance teams, the case offers a concrete enforcement outcome related to privacy-enhancing tools.
For market participants, it reinforces that assets linked to illicit activities can be traced, seized, and ultimately transferred to government control.
With the legal title now granted to the U.S. government, the case will serve as a benchmark for future prosecutions and for discussions regarding the regulatory treatment of mixers and other anonymity services.
The January 21, 2026, order closes this chapter of the Helix investigation, though it leaves open questions about how the seized digital assets are managed after the forfeiture.
