Helix Operations and Larry Harmon’s Case

It all began in 2014. Helix offered users a “tumbling” service, claiming to anonymize Bitcoin transactions. However, investigations revealed that the platform had become a hub for laundering funds tied to drug trafficking and hacking, rather than a legitimate privacy tool. Records indicate Helix processed over 354,000 Bitcoin, worth around $300 million at the time.

Larry Dean Harmon, the Ohio-based operator, also created the darknet search engine Grams. Helix provided an API for integration with major darknet markets, enabling operators to earn commissions and fees per transaction. Authorities traced tens of millions of dollars in illicit proceeds flowing through Helix from multiple darknet markets.

Harmon faced charges in 2020 for money laundering conspiracy and operating an unlicensed money transmitting business. In 2021, he pled guilty to conspiracy to commit money laundering. By 2024, he was sentenced to 36 months in prison, three years of supervised release, fines, and asset forfeiture. On January 21, 2026, U.S. District Court Judge Beryl A. Howell issued a final forfeiture order, officially transferring the assets to the government.

A New Era in Crypto Mixer Regulation

The Helix case forms part of broader regulatory scrutiny over crypto mixers and privacy tools. Platforms like Tornado Cash have faced similar enforcement actions. While crypto advocates argue these services offer legitimate privacy protections, authorities remain focused on their potential use in criminal activity.

In a related development, blockchain entrepreneur and Coin Center fellow Michael Lewellen filed a lawsuit challenging the DOJ. He seeks a ruling that his non-custodial crypto crowdfunding platform, Pharos, does not violate money transmission laws. The case highlights concerns that software developers creating non-custodial privacy tools are being unfairly targeted.

Interestingly, the Justice Department has signaled it will slow enforcement against crypto exchanges and developers. This follows the disbanding of the National Cryptocurrency Enforcement Team (NCET), the specialized unit investigating crypto-related criminal activity.

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Garantex Shutdown, but Fund Movements Continue

After the US Treasury Department’s OFAC sanctioned Garantex in April 2022, and froze $27 million in USDT on March 6, 2025, the exchange halted all operations. Despite these actions, Global Ledger reports that Garantex shifted its remaining funds to Grinex.

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By March 13, 2025, over $60 million worth of ruble-backed A7A5 stablecoins had been laundered through wallet transactions and moved to Grinex. Analysts note that these transactions aimed to clean the asset trail and relaunch operations under a new identity.

Is Grinex Just a New Face of Garantex?

Global Ledger‘s findings indicate that Grinex is directly connected to Garantex, both on-chain and off-chain. Transaction patterns, wallet reuse, and user behaviors strongly link the two exchanges.

Furthermore, CoinMarketRating lists Grinex as a project by Garantex‘s original team, reinforcing claims that it is not an independent platform but a direct continuation of Garantex’s operations.

Transaction Volume Surpasses $68 Million

By mid-March, Grinex had surpassed $68 million in total trading volume, including over $2 million in spot market trades. This activity suggests that Garantex’s previous users have migrated to Grinex, continuing to trade despite sanctions.

On March 12, 2025, Aleksej Bešciokov, allegedly responsible for managing Garantex, was arrested in India by the Central Bureau of Investigation. He faces US charges, including conspiracy to commit money laundering.

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US authorities revealed that Gotbit and its executives fell for the NexFundAI (NEXF) “trap token” created by the FBI to catch market manipulators. The company allegedly engaged in wash trading, artificially inflating the trading volume of crypto assets to help projects secure listings on platforms like CoinMarketCap.

Serious Allegations Against Gotbit Executives!

The US Department of Justice announced that a federal grand jury had indicted Gotbit founder Aleksei Andriunin, along with executives Fedor Kedrov and Qawi Jalili, on charges of market manipulation and fraud. Authorities claim that the executives earned tens of millions of dollars between 2018 and 2024 through these tactics.

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26-year-old Russian national Aleksei Andriunin is also accused by US officials of transferring part of these illegal proceeds to his personal Binance account. Authorities stated that Gotbit executives admitted to using these strategies in a 2019 interview.

Facing Up to 20 Years in Prison!

If convicted, Aleksei Andriunin could face up to 20 years in prison and a fine of up to $250,000. Additionally, he could be forced to forfeit assets and repay twice the amount of illicit gains.

The US Securities and Exchange Commission (SEC) also filed a fraud lawsuit against Gotbit and its executives in October 2024. These allegations further highlight the increasing scrutiny of the crypto industry by regulators.

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In a filing filed on October 8, the DOJ requested that the company’s search business be split, claiming that Google has created an illegal monopoly. The DOJ’s proposal targets the separation of parts of Google’s search business and behavioral changes that will protect consumers and increase competition. In particular, limiting Google’s dominance in new technologies such as artificial intelligence is also part of the plan.

The DOJ also suggested that Google should share its search data and indexes with competitors and that websites should have the option to opt out of having their content used to train AI models. However, the proposals include the establishment of a court-appointed technical committee to monitor Google’s compliance with the new regulations.

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These proposals have not yet been finalized, but it appears that the DOJ is seriously considering them.

Google, on the other hand, defended its business practices on October 9, saying that government intervention could have negative consequences and harm American innovation and consumers.

This case is not the only time in the past year that major tech companies have been criticized for their monopolistic business practices. Google’s future could be significantly shaped by how this case plays out.

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Department of Justice: Binance authorized transactions for ISIS, al-Qaeda, Hamas. Facilitated $900 million in transactions between the US and Iran.

Binance CEO Changpeng Zhao voluntarily surrendered in Washington today, the Justice Department announced. Secretary of the Treasury Yellen: Binance facilitated fund flows to terrorist organizations such as Hamas, Al-Qaeda, ISIS. Additional penalties may come to Binance.

“ The article will be updated as details arrive.”

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