Owe Martin Andresen, a German citizen suspected of being the main administrator of Dream Market, has been indicted for allegedly laundering funds connected to the now-defunct darknet marketplace. Andresen was arrested in Germany last week on charges brought by both U.S. and German authorities, according to a May 13 statement from federal prosecutors.
The case highlights ongoing efforts by law enforcement agencies in the United States and abroad to target financial crimes related to online illicit marketplaces. The U.S. Attorney for the Northern District of Georgia served as the principal federal law enforcement agency in this matter and coordinated with international partners on cases with worldwide implications, according to the official website.
“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.”
Kareem Carter, Special Agent in Charge at IRS Criminal Investigation’s Washington D.C. Field Office said: “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…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 of DEA Miami Field Division added: “Technology has provided drug traffickers with more and more options…It’s up to us to slam the door on those options and bring these cyber criminals to justice.”
Dream Market operated between 2013 and 2019 as one of largest criminal marketplaces on the darknet before its voluntary shutdown amid increasing law enforcement pressure. The site reportedly hosted nearly 100,000 listings at any time for illegal drugs—including heroin, cocaine, methamphetamine—and other contraband; buyers used Tor anonymization software while transactions relied heavily on cryptocurrency payments.
Following its closure in 2019, Dream Market’s digital wallets containing millions remained untouched until late 2022 when Andresen allegedly accessed them using original private keys believed linked only with “Speedstepper,” Dream Market’s unidentified main administrator moniker at that time. In August 2023 he is accused of using Atlanta-based cryptocurrency services—funded by these wallets—to purchase gold bars shipped directly home in Germany; authorities later seized about $1.7 million worth during searches alongside cash holdings exceeding $23,000.
A federal grand jury indicted Andresen on January 13 for multiple counts each carrying up twenty years’ imprisonment if convicted under U.S. charges; parallel German proceedings carry potential five-year sentences per count.
The investigation involved several agencies including IRS Criminal Investigation – Cyber Crimes Unit; DEA Miami Counternarcotic Cyber Investigations Task Force; Bundeskriminalamt Cybercrime Unit (Germany); Zentrale Kriminalinspektion Oldenburg (Germany); FBI; Homeland Security Investigations; among others over an extended period spanning from initial probes beginning around 2016 through recent arrests.
Theodore S. Hertzberg held office as United States Attorney for this district which covers a region serving approximately 7.5 million residents across north Georgia mountains through Atlanta suburbs bordering Alabama/the Carolinas—a jurisdiction prioritizing prosecution against threats like terrorism or trafficking while enforcing federal laws collaboratively across jurisdictions according to their official website.
