Who is Owe Martin Andresen?

Prosecutors allege Owe Martin Andresen operated under the online alias “Speedstepper” and served as a senior administrator of Dream Market. Authorities claim he remained unidentified for years after the platform shut down in 2019.

What was Dream Market?

Dream Market was one of the world’s largest darknet marketplaces between 2013 and 2019. The platform allegedly facilitated illegal drug sales and other illicit transactions primarily using Bitcoin.

How did prosecutors say the laundering scheme worked?

According to the indictment, Andresen allegedly accessed dormant crypto wallets connected to Dream Market and consolidated the funds into new addresses. Prosecutors said he later used crypto services to purchase gold bars shipped directly to his residence.

Why would someone convert cryptocurrency into gold bars?

Gold bullion can act as a physical store of value outside traditional banking systems. Law enforcement agencies often monitor these conversions because precious metals may be used to conceal or move wealth derived from illicit activity.

How much was seized during the arrest?

German authorities reportedly seized approximately $1.7 million worth of gold bullion, around $23,000 in cash and additional bank and crypto accounts linked to the investigation.

Why are darknet marketplaces closely tied to Bitcoin?

Early darknet markets widely adopted Bitcoin because blockchain payments allowed users to transact without relying directly on banks. However, blockchain analytics tools have since made many crypto transactions more traceable than previously assumed.

What crimes was Dream Market allegedly linked to?

Authorities said Dream Market facilitated large-scale sales of illegal drugs including cocaine, heroin and fentanyl. Prosecutors alleged the marketplace handled thousands of illicit listings before shutting down.

DOJ charges Dream Market admin over crypto laundering

Q: What is the Dream Market crypto laundering case about?

The US Department of Justice accused German national Owe Martin Andresen of laundering roughly $2 million in cryptocurrency linked to the former darknet marketplace Dream Market. Prosecutors allege he converted crypto holdings into gold bullion shipped to Germany.

Written by Brie CarterPublished May. 18 2026Last Updated May. 18 2026

The US Department of Justice indicted German citizen Owe Martin Andresen over allegations he laundered roughly $2 million in cryptocurrency linked to the former darknet marketplace Dream Market.

Prosecutors alleged Andresen, who allegedly operated under the online alias “Speedstepper,” accessed dormant Dream Market crypto wallets in late 2022 before consolidating and moving the funds through new addresses.

According to the indictment, Andresen later used an Atlanta-based crypto service beginning in 2023 to purchase gold bars from international dealers, with the bullion reportedly shipped directly to his home in Germany.

German authorities arrested Andresen on May 7 and reportedly seized approximately $1.7 million in gold bullion alongside around $23,000 in cash, while investigators also linked roughly $1.2 million in bank and crypto accounts to the alleged operation.

Dream Market operated between 2013 and 2019 and became one of the largest darknet marketplaces before shutting down amid mounting international law enforcement pressure.

The platform allegedly facilitated illegal drug transactions involving substances including cocaine, heroin and fentanyl, with payments largely conducted using Bitcoin to obscure transaction flows.

The case forms part of broader international efforts targeting dormant darknet marketplace proceeds and cryptocurrency-linked money laundering networks, following several high-profile seizures involving legacy darknet wallets in recent years.

At the time of reporting, Bitcoin price was $76,912.84.