Dream Market admin charged in $2M crypto laundering case

Owe Martin Andresen was charged with laundering $2M in crypto from Dream Market wallets into gold bars. Authorities seized $1.7M in gold and other assets. He faces charges in the U.S. and Germany.

U.S. prosecutors have charged German citizen Owe Martin Andresen, alleged to be the main administrator of the darknet marketplace Dream Market, with laundering over $2 million in cryptocurrency proceeds by converting them into gold bars. Andresen, known online as Speedstepper, reportedly accessed dormant Dream Market wallets in late 2022 and transferred funds into new blockchain addresses. The laundered funds were routed through regulated crypto services, including an Atlanta-based provider, and used to purchase gold bullion from international dealers. The gold was then shipped to Germany. Authorities seized approximately $1.7 million in gold bars, $23,000 in cash, and $1.2 million in bank and crypto accounts. Andresen was arrested in Germany on May 7, 2026, in a coordinated operation with U.S. and German law enforcement. Dream Market, which operated from 2013 to 2019, was one of the largest darknet marketplaces, facilitating sales of illegal drugs, stolen information, and counterfeit documents. Andresen faces multiple money laundering charges in both the U.S. and Germany, with potential sentences of up to 20 years per U.S. count and up to five years per German count.