ATLANTA — The suspected main administrator of the defunct darknet marketplace Dream Market, has been indicted in the United States on 12 counts of money laundering.
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Owe Martin Andresen, 49, of Germany, who was arrested in Germany on May 7, is accused of funneling illicit funds from Dream Market’s administrator accounts and converting them into gold bars.
Dream Market operated from 2013 to 2019, selling a significant amount of illegal drugs, stolen personally identifiable information and counterfeit identification documents. Andresen is alleged to have laundered over $2 million between August 2023 and April 2025 by using cryptocurrency wallets and purchasing gold bars after the marketplace’s closure.
The U.S. Attorney, Theodore S. Hertzberg, stated that Andresen allegedly channeled commissions from selling illegal drugs, stolen personal information, counterfeit identification and other items through cryptocurrency wallets. Hertzberg noted Andresen then converted his illicit gains into gold bars.
“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,” Hertzberg said. “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.”
Kareem Carter, Special Agent in Charge of the Internal Revenue Service - Criminal Investigation (CI), Wash. D.C. Field Office, highlighted the commitment of law enforcement to target financial aspects of transnational crime. Carter emphasized that financial footprints of illicit actors remain visible.
“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,” Carter said. “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.”
Miles Aley, DEA Miami Field Division Special Agent in Charge, remarked on how technology provides drug traffickers with various options to sell illegal substances. Aley stressed the importance of law enforcement in countering these methods.“
Technology has provided drug traffickers with more and more options to peddle their poisons into our communities,” Aley said. “It’s up to us to slam the door on those options and bring these cyber criminals to justice.”
Dream Market launched in 2013 and became one of the largest criminal marketplaces on the darknet, at times featuring close to 100,000 listings. Between 2013 and 2019, the marketplace facilitated the sale of 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. Buyers and sellers used Tor, an internet traffic anonymizing service and cryptocurrency to mask payments, allowing the marketplace to grow rapidly.
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Coordinated law enforcement efforts led to the dismantling of the Dream Market infrastructure. High-ranking administrators using monikers such as “Oxymonster” and “KITT3N” were previously convicted in prosecutions led by the U.S. Attorney’s Office in the Southern District of Florida and the U.S. Department of Justice Computer Crime and Intellectual Property Section. A mid-level administrator, “GOWRON,” responsible for customer service, was convicted through prosecution by the United Kingdom Crown Prosecution Service. The main administrator, “Speedstepper,” remained unidentified.
In 2019, Dream Market’s administrators announced a voluntary shutdown due to increasing law enforcement pressure. After the closure, the marketplace’s cryptocurrency infrastructure, including “Dream Wallets” holding millions of dollars in commission payments to administrators, remained largely untouched.
Andresen allegedly accessed the Dream Wallets in November and December 2022, transferring funds into new, consolidated cryptocurrency wallets. This activity could only have been initiated by someone with access to Dream Market’s original private keys, believed to be “Speedstepper.” Months later, in August 2023, Andresen allegedly used a cryptocurrency service provider in Atlanta to purchase gold bars from international companies. He directed these companies to ship the gold bars to his home address in Germany. German law enforcement identified additional money laundering transactions committed by Andresen in Germany.
On May 7, German and U.S. law enforcement coordinated Andresen’s arrest, searching his residence and two other locations. During these searches, authorities located approximately $1.7 million of gold bars and over $23,000 in cash, allegedly purchased with Dream Market funds. Law enforcement also located information identifying several bank accounts and cryptocurrency wallets containing approximately $1.2 million of funds believed to be proceeds of Dream Market.
A federal grand jury returned an indictment on Jan. 13, charging Andresen with six counts of international money laundering and six counts of money laundering. Each federal charge provides for a sentence of up to 20 years in prison. Germany has also charged Andresen with several counts of money laundering, with each German charge punishable by up to five years in prison.
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