I had an Industar for a season and never noticed this issue. Just got my first Helios and right away was noticing the light leak issue, but didn't know what it was... I think maybe noticed right away because I first set the aperture to F2 thinking it was actually F2, because I didn't know that oddly enough F2 on a Helios is actually F16.... So my first test shot that was unintentionally done at F16 had some very defined light leaks streaking across my image. Clean glass.. No oil.. What the heck!?
I emailed OzzRod about this (he had referred me to a specific ebay seller and has a handful of these Helios lenses) and he suggested to check inside for any missing black coating... I did find a little bit missing near the back element, so for half the day today thought that this was the problem and was considering returning the lens...
Then Rod emailed again that he'd just noticed the exposed adapter holes when looking at one of his Helios and it occured to him as a possible culprit and the light finally leaked into my brain too!
So my first test was just with some gorilla tape covering the holes which right away proved light leaks to be the problem (this is all on my K1 by the way). Specifically, I found that the exposed hole nearest the shutter button causes the leaks for me. The one on the other side I could not get to produce visible leaks (with just that hole open and other still taped over...)
Rod also mentioned that some are using o-rings that he read about on the forum, so I assume he was referring to this thread...Thought I might stop by a hardware store at some point but in the mean time was sitting here thinking about alternatives and it occured to me to try using a hair tie. It seems to work just fine, though a bit tedious to get into place.
Added a second one for good measure but it really does't seem necessary...
Just thought I'd mention all this for others who might go through this little adventure...