U.S. prosecutors have charged Owe Martin Andresen, a 49-year-old German citizen described by the Justice Department as the suspected main administrator of the darknet marketplace Dream Market, in a crypto-linked money laundering case centered on dormant marketplace wallets and gold bars shipped to Germany. The indictment, returned by a federal grand jury in the Northern District of Georgia, charges Andresen with six counts of international concealment money laundering and six counts of concealment money laundering, while German authorities have brought parallel charges.
Dream Market Figure Faces Crypto Laundering Case
Dream Market launched in 2013 and grew into one of the largest illicit darknet marketplaces before its 2019 shutdown, with nearly 100,000 listings at a given time. Prosecutors said the marketplace facilitated sales of narcotics and other illegal goods and services through Tor and cryptocurrency payments, including more than 90 kilograms of heroin, 450 kilograms of cocaine, 25 kilograms of crack cocaine, 45 kilograms of methamphetamine, 13 kilograms of oxycodone, and 36 kilograms of fentanyl between 2013 and 2019.
“Andresen allegedly channeled commissions earned from selling illegal drugs, stolen personally identifiable information, counterfeit identification documents, and other items through cryptocurrency wallets and even converted his ill-gotten gains into gold bars,” said Theodore S. Hertzberg, U.S. Attorney for the Northern District of Georgia. “Thanks to the close coordination between federal and German law enforcement, Andresen and his co-conspirators will no longer profit from the online sales of narcotics and fraud services, and Andresen will be prosecuted in both Germany and the United States as a result of his actions.”
The Justice Department said earlier Dream Market enforcement actions led to convictions of high-ranking administrators using the monikers “Oxymonster” and “KITT3N,” as well as a mid-level administrator known as “GOWRON.” The main administrator, identified by the moniker “Speedstepper,” had not been publicly identified in those earlier cases. Prosecutors now allege that Andresen had access to original Dream Market private keys tied to administrator funds.
Prosecutors Trace Dormant Wallets to Gold Bars
After Dream Market closed in 2019, its crypto infrastructure remained largely untouched, including wallets holding millions of dollars in administrator commission payments. Prosecutors said that in November and December 2022, Andresen accessed those Dream Market wallets and moved funds into new consolidated wallets. The government says that activity could only have been initiated by someone with access to the original private keys believed to be controlled by “Speedstepper.”
“This action highlights the unwavering commitment of IRS Criminal Investigation and our global law enforcement partners to dismantle the financial engines that sustain transnational criminal enterprises,” said Kareem Carter, Special Agent in Charge of IRS Criminal Investigation’s Washington, D.C. Field Office. “The reintegration of long dormant proceeds demonstrates a hard truth: illicit actors may hide in the shadows, but their financial footprints remain. IRS CI is dedicated to following the money, and our Cyber Crimes Unit special agents are dedicated to exposing those who attempt to exploit technology to evade accountability.”
In August 2023, Andresen allegedly used an Atlanta-based cryptocurrency service provider to buy gold bars from international companies with funds held in the consolidated wallets, directing the shipments to his home address in Germany. Prosecutors allege he laundered more than $2 million between August 2023 and April 2025. During searches on May 7, 2026, German and U.S. authorities located about $1.7 million in gold bars, more than $23,000 in cash, and information identifying bank accounts and crypto wallets containing roughly $1.2 million believed to be Dream Market proceeds.
Andresen was arrested in Germany on parallel German charges as part of a coordinated action with U.S. law enforcement. Each U.S. federal charge carries a potential sentence of up to 20 years in prison, while each German concealment money laundering charge is punishable by up to five years. The indictment contains charges only, and Andresen is presumed innocent unless and until the government proves guilt beyond a reasonable doubt at trial.
AI Transparency Note: This article was prepared with the assistance of an AI system based on the sources listed and was reviewed, edited, and approved by a human editor before publication. All quotes, data points, and factual claims are intended to be grounded in the cited source material; however, errors cannot be ruled out entirely.
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