Owe Martin Andresen, the suspected main administrator of Dream Market, one of the largest illicit darknet marketplaces before its 2019 shutdown, has been indicted for an alleged scheme to launder funds from Dream Market’s administrator accounts. Andresen was arrested last week in Germany on parallel charges brought by the German government.
“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 U.S. Attorney Theodore S. Hertzberg. “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.”
“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 the Internal Revenue Service - Criminal Investigation (CI), 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.”
“Technology has provided drug traffickers with more and more options to peddle their poisons into our communities,” said DEA Miami Field Division Special Agent in Charge Miles Aley. “It’s up to us to slam the door on those options and bring these cyber criminals to justice.”
According to U.S. Attorney Hertzberg, the indictment, and other information presented in court: Dream Market launched in 2013 and became one of the largest criminal marketplaces on the darknet, with close to 100,000 listings at a given time. Between 2013 and 2019, Dream Market 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 accessed Dream Market and interacted with each other through the use of Tor (an internet traffic anonymizing service), and they relied on cryptocurrency to mask the origin and destination of their payments—a model that allowed the marketplace to grow at a staggering pace.
Coordinated law enforcement efforts led to the dismantling of the Dream Market infrastructure by identifying, arresting, and prosecuting the high-level vendors, moderators, and administrators who sustained the transnational criminal enterprise. High-ranking administrators who used the monikers “Oxymonster” and “KITT3N” were previously convicted in prosecutions led by the U.S. Attorney’s Office in Southern District of Florida and the U.S. Department of Justice Computer Crime and Intellectual Property Section. A mid-level administrator responsible for customer service issues on the website and who used the moniker “GOWRON” was convicted in a prosecution by the United Kingdom Crown Prosecution Service. However, the main administrator of the Dream Market, who used the moniker “Speedstepper,” was not identified.
In 2019, facing increasing law enforcement pressure, Dream Market’s administrators announced that they were voluntarily shutting down the marketplace. After Dream Market’s closure, the marketplace’s cryptocurrency infrastructure remained largely untouched, including Dream Market wallets that held millions of dollars in commission payments to the administrators (the “Dream Wallets”).
Three years later, in November and December 2022, Andresen allegedly accessed the Dream Wallets and transferred funds into new, consolidated cryptocurrency wallets (the “Consolidated Wallets”)—activity that 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 based in Atlanta, Georgia to purchase gold bars from international companies using funds in the Consolidated Wallets and directed those 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. In total, Andresen is alleged to have laundered over $2 million between August 2023 and April 2025.
On May 7, 2026, in a coordinated effort by both German and U.S. law enforcement, Andresen was arrested on German charges, and his residence and two other locations were searched. During the searches, law enforcement located approximately $1.7 million of gold bars allegedly purchased with Dream Market funds, as well as over $23,000 in cash. Law enforcement also located information identifying several bank accounts and cryptocurrency wallets containing approximately $1.2 million of funds believed to be proceeds of the Dream Market.
A federal grand jury returned an indictment on January 13, 2026, charging Owe Martin Andresen, 49, of Germany, with six counts of international concealment money laundering and six counts of concealment money laundering. Each federal charge provides for a sentence of up to 20 years in prison. Germany also has charged Andresen with several counts of concealment money laundering. Each German charge is punishable by up to five years in prison.
Members of the public are reminded that the indictment only contains charges. The defendant is presumed innocent of the charges, and it will be the government’s burden to prove the defendant’s guilt beyond a reasonable doubt at trial.
This case is being investigated by the IRS Criminal Investigation – Cyber Crimes Unit and DEA Miami Counternarcotic Cyber Investigations Task Force, with substantial assistance from foreign law enforcement partners, including the Bundeskriminalamt Cybercrime Unit and Zentrale Kriminalinspektion Oldenburg.
A multi-agency task force, including the Drug Enforcement Administration, Internal Revenue Service - Criminal Investigation, United States Postal Inspection Service, Federal Bureau of Investigation, Homeland Security Investigations, and the Fort Lauderdale Police Department, initially investigated Dream Market’s criminal activities between 2016 and 2022.
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