Larry Dean Harmon, the mastermind behind a Bitcoin laundering service known as Helix, has been sentenced to three years in prison and ordered to forfeit over $400 million in assets. This comes as a result of his operation, which was a popular choice for online drug dealers seeking to launder their earnings.

According to reports, Helix processed approximately 354,468 bitcoins during its operation, totaling $311,145,854 at the time of the transactions. The funds were believed to have originated from darknet drug markets, and Harmon, a resident of Akron, Ohio, retained a percentage of the transactions as a fee.

Harmon's operation was facilitated by developing an API that integrated the darknet drug marketplace with Helix, allowing for direct Bitcoin withdrawals. This integration was eventually traced by investigators, leading to the seizure of tens of millions of dollars in transactions.

Operating from 2014 to 2017, Harmon pleaded guilty to conspiracy to commit money laundering on August 18, 2021. He was recently sentenced by U.S. District Judge Beryl Howell of the Federal court in Washington, D.C. The investigation included personnel from the Justice Department's Criminal Division, the IRS Criminal Investigation, and the FBI's Cyber Division.

Despite the significant amount of assets seized, Harmon's sentencing was considered lenient, as he cooperated with authorities and accepted responsibility by pleading guilty. In addition to his prison sentence, he received three years of supervised release and was ordered to forfeit cryptocurrencies, real estate, and bank assets totaling over $400 million.