Dropbit Wallet CEO Charged with Money-Laundering

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Privacy of crypto transactions has been challenged again, as the CEO of the Dropbit app Larry Harmon has been arrested and charged with conspiracy to launder money. Dropbit CEO Larry Harmon Faces 30 Years in Prison Dropbit, the Bitcoin wallet and service, continues to operate for now. But Coin Ninja, Harmon’s cryptocurrency media, had its assets seized. The most contentious issue was the Helix service, which could help Dropbit clients mix their coins. Peter McCormack, prominent Bitcoin supporter, has noted in a lengthy Twitter thread that Harmon faces serious consequences from attempting to offer private BTC transfers. Reportedly, the usage of Dropbit and Helix have also been related to dark markets. 1/ Re: Dropbit… …CEO Larry Harmon has been arrested and is currently in Youngstown Ohio federal jail. Charged with:– Conspiracy to launder money instruments– Operating an unlicensed money transmitting business He faces up to 30 years. — Peter McCormack…

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