Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

US Authorities Accuse DropBit CEO of Running Crypto Laundering Operation, Mixing 354,468 Bitcoin (BTC) Worth $311,000,000

by Daily Hodl Staff
February 14, 2020
in Scams, Schemes and Hacks
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

The founder and CEO of mobile Bitcoin wallet DropBit, Larry Harmon, is facing federal charges for allegedly running a crypto money laundering operation.

The indictment, unsealed on February 11 in the District of Columbia, alleges that between 2014 and 2017, Harmon operated Helix, a Bitcoin mixing service.

For a fee, Helix would send BTC on behalf of customers in mixed batches to hide the source or owner of the cryptocurrency, a service known as a Bitcoin mixer or tumbler. Harmon allegedly used his darknet search engine Grams to advertise Helix to prospective customers as a means to conceal illegal transactions from law enforcement.

Harmon started to shut down Grams and Helix sometime in December of 2017, but over the course of the operation, Assistant Attorney General Brian Benczkowski of the Justice Department’s Criminal Division says Harmon allegedly laundered hundreds of millions of dollars of proceeds from illicit narcotics and other criminal activities for darknet users around the globe.

The indictment reads,

“In total, Helix exchanged at least approximately 354,468 bitcoins-the equivalent of approximately $311 million in U.S.dollars at the time of the transactions–on behalf of its customers, including customers in the District of Columbia.

The largest volume of funds sent to Helix came from Darknet markets selling illegal goods and services, including AlphaBay, Agora Market, Nucleus, and Dream Market, and other Darknet markets.”

Harmon faces 30 years in prison.



Check Latest News Headlines




Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Cometh Partners With Alchemix for “Wizards” Collection of Yield-Generating NFTs
    April 9, 2021
  • eToro Appoints Dr. Hedva Ber, Israel’s Former Banking Supervisor, As Deputy CEO and Global COO
    April 8, 2021
  • Blockchain Provider Orbs Is Now Accessible Through the AWS Marketplace
    April 8, 2021
  • Taraxa to Integrate a Chainlink Timestamp Oracle for Tracking Informal Transaction Agreements
    April 8, 2021
  • Immutable X Launches Gas-Free Layer-2 Solution Paving the Way to Mainstream NFT Adoption
    April 8, 2021
  • SpiderDAO Announces TestNet Deployment
    April 7, 2021
  • The Crypto Card With Everyday Purchasing Power That Gives You Full Control Over Your Assets
    April 7, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$60,115.00
$60,115.00
0.42%
Ethereum
$2,136.47
$2,136.47
1.6%
Binance Coin
$466.88
$466.88
1.09%
XRP
$1.45
$1.45
37.15%
Polkadot
$40.72
$40.72
2.92%
Cardano
$1.23
$1.23
1.2%

Spotlight

  • Banking Giant JP Morgan Lowers Bitcoin’s Long-Term Bullish Target – Here’s Why
    April 5, 2021
  • Billionaire Mark Cuban Believes Bitcoin Will Replace Gold on Massive Scale
    April 9, 2021
  • Giant Crypto Whale Emerges, Moving $703,000,000 in Bitcoin in an Instant – Here’s Where the Crypto Is Now
    April 3, 2021
  • These Six Crypto Assets Are Gearing Up To Erupt, According to Analyst Cantering Clark
    April 6, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl