U.S. DOJ Recovers Massive Amount of Illicit Cryptocurrency Assets
In a recent announcement made on Thursday, the U.S. Department of Justice confirmed the successful seizure of more than $400 million in assets tied to a now-defunct cryptocurrency mixing service linked to dark web criminal activity.
The service, known as Helix, operated from 2014 to 2017 and was used to obfuscate the origins of digital currency transactions, often facilitating the laundering of funds obtained through illegal narcotics sales on darknet marketplaces.
Court Orders Final Transfer of Assets to Government
The confiscation follows a final order issued by the U.S. District Court for the District of Columbia on January 21, which officially transfers ownership of all seized digital currencies, real estate, and financial assets to the federal government.
More Than 350,000 Bitcoins Processed
According to the DOJ, Helix processed at least 354,468 Bitcoins during its operation, equivalent to approximately $300 million at the time of the transactions. These funds were directly tied to multiple dark web marketplaces engaged in unlawful commerce.
Operator Also Linked to Other Underground Platforms
In addition to Helix, the operator, Larry Harmon, was also behind Grams, a search engine designed to help users locate and access active darknet markets, thereby enabling further illicit trade.