Arrested in February 2020 for his past activity under money laundering charges, Larry Dean Harmon recently pleaded guilty at his trial, reports the Bleeping Computer. He was tried for laundering the equivalent of $300 million.

Between 2014 and 2017, Larry Dean Harmon offered a rather particular money laundering service. He operated a bitcoin “mixer”, named Helix, whose role was to blur the traces of transactions between cybercriminals' wallets. It covered traces of bitcoin transactions made by cybercriminals. He admitted to having laundered 350,000 bitcoins, the equivalent (at the time) of $300 million (and much more today). According to justice, he carried out more than 1.2 million transactions on behalf of his clients. The defendant agreed to leave 4,400 bitcoins (valued at $200 million) in court in addition to the seizure of the material used in the laundering system. Now he faces a maximum prison sentence of 20 years, and a fine of up to $500,000. After his career as a mobster, Harmon created the startup Coin Ninja, of which he was the general manager until 2020, the year of his arrest. His company described itself as the “Venmo of Bitcoins”: it created crypto wallets that allowed Bitcoin to be sent between people via SMS. Harmon covered the traces of the transactions with his service, so as to mislead the authorities and the regulators.