The U.S. Division of Justice has charged German citizen Owe Martin Andresen over an alleged cash laundering scheme tied to Dream Market, a darknet market that shut down in 2019.
Abstract
- DOJ charged Owe Martin Andresen over alleged laundering tied to Dream Market administrator wallets.
- Prosecutors mentioned dormant crypto wallets moved funds earlier than purchases of gold bars shipped to Germany.
- Authorities seized $1.7 million in gold bars, money and crypto-linked belongings throughout searches.
Prosecutors mentioned Andresen was the suspected predominant administrator of the positioning. In the meantime, the DOJ mentioned Andresen was arrested in Germany final week on parallel German costs.
U.S. prosecutors mentioned he used dormant Dream Market administrator wallets to maneuver funds and later convert a part of the proceeds into gold bars.
Prosecutors cite dormant crypto wallets
Dream Market launched in 2013 and have become one of many largest darknet markets earlier than its closure. Prosecutors mentioned the positioning carried near 100,000 listings at a time and used Tor and cryptocurrency to cover consumers, sellers and funds.
After the shutdown, the DOJ mentioned Dream Market’s crypto infrastructure stayed largely untouched. Prosecutors mentioned exercise resumed in late 2022, when funds moved from outdated Dream Market wallets into newly consolidated wallets. They mentioned the transfers “could only have been initiated” by somebody with entry to the unique personal keys.
Furthermore, prosecutors mentioned Andresen used a crypto service supplier primarily based in Atlanta to purchase gold bars from worldwide firms in August 2023. The gold bars have been allegedly shipped to his house tackle in Germany.
The DOJ mentioned Andresen allegedly laundered greater than $2 million between August 2023 and April 2025. Throughout searches on Could 7, authorities discovered about $1.7 million in gold bars, greater than $23,000 in money, and knowledge tied to financial institution accounts and crypto wallets holding about $1.2 million believed to be Dream Market proceeds.
Crypto crime circumstances stay energetic
A federal grand jury charged Andresen with six counts of worldwide concealment cash laundering and 6 counts of concealment cash laundering. Every U.S. cost carries as much as 20 years in jail. The DOJ mentioned Andresen is presumed harmless until confirmed responsible.
The case follows wider enforcement towards crypto-linked laundering. Crypto.information reported that the DOJ finalized forfeiture of over $400 million in belongings tied to Helix, a darknet crypto mixer. Separate protection mentioned a California man obtained 70 months in jail for laundering funds tied to a $263 million crypto theft group.
