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Helix mixer operator gets 3 years in prison for money laundering

Larry Harmon laundered 350,000 BTC, but he was treated leniently for his help in jailing Roman Sterlingov.

Larry Harmon, who was arrested in 2020 for helping criminals launder money through the Helix cryptocurrency mixer, has been sentenced to three years in prison. The sentence was a show of leniency due to his assistance in the Bitcoin Fog mixer case, District of Columbia District Court Judge Beryl Howell said.

Harmon faced a sentence of up to 20 years for the charges against him. The government had recommended a sentence of 75 months on Nov. 11. Harmon was fined $60 million by the Treasury Department’s Financial Crimes Enforcement Network in 2020.

Harmon helped prosecutors in the case against Bitcoin Fog operator Roman Sterlingov, who was sentenced to 12.5 years in prison on Nov. 8. Harmon expressed remorse at his sentencing. He had also shut down Helix two years before his arrest, the judge noted while passing sentence on him. “He turned himself around before he was arrested in this case,” she said.

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How law enforcement struggles with sophisticated crypto laundering

Advanced crypto laundering techniques continue to challenge law enforcement and crypto-related services, as highlighted in a new Chainalysis report on money laundering.

According to a report by Chainalysis, sophisticated money laundering techniques are presenting a significant challenge for law enforcement agencies and cryptocurrency service providers.

On July 11, the blockchain analysis firm Chainalysis released its “Money Laundering and Cryptocurrency Report,” highlighting the trend of billions flowing through the crypto ecosystem from illicit wallets to conversion services every month.

The report shows that these flows utilize advanced methods to obscure the origins and movement of these funds.

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Federal Agents Crack Down on Drug Ring Using Crypto Mixers

Federal Agents Crack Down on Drug Ring Using Crypto MixersHolly Danielle Adams, 34, from California, has pleaded guilty to charges of drug distribution conspiracy and money laundering via cryptocurrency mixers. This case stems from an investigation by the Northern California Illicit Digital Economy (NCIDE) Task Force, a federal team dedicated to combating all forms of illegal dark web and cryptocurrency activities in the Eastern […]

Robert Kiyosaki Predicts $250K Bitcoin in 2025 – He’s Buying More Today